A Special Catch-Up Provision Permits Workers Age 50 or Older

question 227

Multiple Choice

A special catch-up provision permits workers age 50 or older to contribute an additional ____ to most employer-sponsored plans.

• A)$3,000
• B)$5,000
• C)$5,500
• D)$16,000

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Definitions:

Profitable Level

A point at which revenues exceed costs, resulting in financial gain for businesses or economic activities.

Market Price

The current price at which an asset or service can be bought or sold, determined by the supply and demand dynamics in the open market.

Shut Down

A short-run decision by a firm to cease production when market conditions make continued operation unprofitable.

Market Price

The existing trade value at which an asset or service can be acquired or disposed of.