Lynn Works for a State University

question 37

Multiple Choice

Lynn works for a state university.In addition to the university's regular retirement plan,Lynn participates in another retirement savings plan.She elected to have $5,000 of her salary withheld and contributed to a tax-sheltered annuity with an insurer.The type of plan that Lynn established is called a

• A)SIMPLE plan.
• B)403(b)plan.
• C)defined benefit plan.
• D)profit sharing plan.

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Definitions:

Living Unit

A residential space, such as an apartment or house, designed for occupancy by individuals or families.

Waste

The degradation of value or condition of a property, often due to neglect or misuse.

Realty

Refers to real estate or real property, encompassing land and anything permanently attached to it, such as buildings.

Permanently Injures

Causes lasting physical or mental damage to a person, affecting their abilities or quality of life indefinitely.