In Applying the IRA Phase-Out Provision, an Individual Is Considered

question 74

True/False

In applying the IRA phase-out provision, an individual is considered an active participant in an employer-sponsored retirement plan merely because an individual's spouse is an active participant for any part of a plan year.

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Definitions:

Intrinsic Benefits

Advantages or positive effects that are inherent to an activity or object, valuing it for its own sake rather than for external reasons.

Extrinsic Benefits

Rewards or advantages coming from external sources, separate from the intrinsic value of the activities performed.

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