Both Employers and Employees May Contribute to Defined Contribution Plans

question 51

True/False

Both employers and employees may contribute to defined contribution plans. However, the amount that employees may contribute to the plan in a given year is limited by the tax law while the amount that employers may contribute is not.

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Definitions:

Member

A term often used in engineering to refer to an individual component of a structure, machine, or mechanism that serves a specific function.

Back Weld

A welding technique where a weld is applied on the opposite side of a previously welded joint to ensure strength and integrity.