SIMPLE Retirement Plans Allow a Higher Level of Employer Contributions

question 44

True/False

SIMPLE retirement plans allow a higher level of employer contributions than do SEP IRAs.

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Definitions:

Igneous Rocks

Rocks formed from the cooling and solidification of magma or lava, classified into intrusive (slow cooling inside the earth) and extrusive (quick cooling on the surface) types, such as granite and basalt.

Nonfuel Mineral Resources

Minerals found in the Earth's crust that are used for everything except fuel, such as metals, stone, and industrial minerals like gypsum and salt.

Metamorphic Rock

Rock that has been transformed by heat, pressure, or chemical processes from its original state into a new form.

Anthracite

A hard, compact variety of coal that has a high luster and carbon content.