Under a Qualified Profit-Sharing Plan,contributions Must Be Made at Least

question 48

True/False

Under a qualified profit-sharing plan,contributions must be made at least annually whether or not the employer has positive net income for the year.

---

Definitions:

Fixed Percentage

A specified, constant proportion or rate that does not change with variation in base quantities, often used in financial contexts like interests or commissions.

Deferred Profit-Sharing Plans

A type of profit-sharing plan where contributions are deferred and placed in a trust for the employee until a set time, often retirement.

Quasi Pension Plans

Programs that mimic traditional pension plans but typically offer more flexibility and are often funded by the employees, sometimes with employer contributions.

Monetary Reward

Financial compensation given to employees as a form of acknowledgment for their work performance or achievement.