Sam Retired Last Year and Will Receive Annuity Payments for Life

question 49

Multiple Choice

Sam retired last year and will receive annuity payments for life from his employer's qualified retirement plan of $30,000 per year starting this year.During his years of employment,Sam contributed $130,000 to the plan on an after-tax basis.Based on IRS tables,his life expectancy is 260 months.This year,Sam will include what amount in income?

• A)0
• B)$6,000
• C)$24,000
• D)$30,000

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Definitions:

Social Theories

Encompasses conceptual frameworks and perspectives for understanding social phenomena, relationships, and structures.

Sociological Theories

Collective ideas that provide explanations about society, its structure, and the dynamics of social interactions within it.

Jacques Derrida

A French philosopher best known for developing deconstruction, a critical approach that emphasizes the inherent differences and contradictions in texts.

Deconstructed

A rephrased definition: An analysis technique used to critically dissect complex ideas or texts to uncover hidden meanings and assumptions.