Examlex
Elections that determine candidates that will run under given party labels are called general elections.
AGI
The total income earned by an individual, subtracting specific deductions, used to calculate how much income tax is owed.
Deductible Contribution
An investment into a qualified account, such as an IRA or 401(k), that can be subtracted from gross income to reduce taxable income.
Highly Compensated Employees
Employees who receive compensation above a specific threshold set by the IRS, subject to certain retirement plan rules.
Pension Plan
A savings strategy for retirement that mandates employers contribute to a fund reserved for an employee's future benefits.
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