Employees Age 50 or Over Can Contribute an Additional ________

question 94

Multiple Choice

Employees age 50 or over can contribute an additional ________ per year to a 401(k) plan.

• A) $17,500
• B) $6,500
• C) $5,500
• D) $5,000

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Definitions:

Accelerated Due Date

A revised payment date, moved earlier than originally scheduled, usually triggered by a breach of contract terms.

Grace Period

A set time period after a deadline during which a late payment or other obligation may be met without incurring a penalty.

Judgment

The official decision or conclusion given by a court following a legal proceeding.

Real Defense

A genuine, legally recognized defense that can be used to nullify a claim or charge.