In General, Which of the Following Statements Regarding Self-Employed Retirement

question 147

Multiple Choice

In general, which of the following statements regarding self-employed retirement accounts is true?

• A)In general, SEP IRAs have higher contribution limits than individual 401(k)s if the contributing taxpayer is at least 50 years of age at year-end.
• B)In general, SEP IRAs have higher contribution limits than individual 401(k)s no matter the age of the contributing taxpayer.
• C)In general, individual 401(k)s have higher contribution limits than SEP IRAs.
• D)None of the choices are true. In general, both SEP IRAs and individual 401(k)s have exactly the same annual contribution limits.

---

Definitions:

Transformational Coping

A way of managing stressful events by changing them into less subjectively stressful events.

Counterdependence

An unhealthy, insecure pattern of behavior that leads to separation in relationships with other people.

Overdependence

An unhealthy, insecure pattern of behavior that leads to preoccupied attempts to achieve security through relationships.

Regressive Coping

Coping mechanisms or strategies that involve retreating to less mature behaviors when faced with stress or adversity.