The Holden Corporation Maintains a SIMPLE-IRA Retirement Plan for Its

question 39

Multiple Choice

The Holden Corporation maintains a SIMPLE-IRA retirement plan for its employees.The company has notified its employees that for 2013 it will fund the SIMPLE-IRA by matching an employee's contribution up to a maximum of 3% of the employee's salary.Harrison's salary in 2013 is $50,000 and he contributed $2,000 to the plan.What amount must Holden contribute on Harrison's behalf?

• A)$ -0-
• B)$ 600
• C)$1,500
• D)$2,000
• E)$4,600

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Definitions:

Sigmund Freud

An Austrian neurologist and the founder of psychoanalysis, a clinical method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Carl Jung

A Swiss psychiatrist and psychoanalyst who founded analytical psychology, known for his concepts of the collective unconscious and archetypes.

J.Allan Hobson

J.Allan Hobson was a prominent neuroscientist and psychiatrist known for his research on the brain mechanisms of dreaming and consciousness.

Schizophrenia

A psychological condition marked by altered cognition, feelings, self-perception, and actions.