Which of the Following Plans Does Not Allow for a Catch-Up

question 2

Multiple Choice

Which of the following plans does not allow for a catch-up contribution?

• A)401(k).
• B)403(b).
• C)457(b).
• D)Profit sharing.

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Definitions:

Transaction

A business deal or action, such as buying, selling, or trading, involving two or more parties exchanging goods, services, or financial assets.

Continuing Partnership

A partnership that persists in conducting its business operations despite changes in its membership or structure.

Nonwrongfully Dissociates

The process by which a partner departs from a partnership according to the terms of the partnership agreement or without violating any legal obligations.

Liability

The state of being legally responsible for something, especially in terms of owing money or being obligated to provide compensation for damage or injury.