Which of the Following Statements Concerning Individual 401(k)s Is False

question 30

Multiple Choice

Which of the following statements concerning individual 401(k) s is false?

• A) In general, individual 401(k)s have higher administrative costs than SEP IRAs.
• B) Employees cannot participate in individual 401(k)s.
• C) Individual 401(k)s are available only to self-employed taxpayers with 100 or fewer employees.
• D) Individual 401(k)s have contribution limitations.

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Definitions:

Life Expectancy

Age to which a person in a particular cohort is statistically likely to live (given his or her current age and health status), on the basis of average longevity of a population.

Suicide

The act of intentionally causing one's own death.

Self-Determination

A theory in psychology that refers to each person's ability to make choices and manage their own life, emphasizing the importance of autonomy and self-regulation.

Grief

The complex emotional experience following the loss of a loved one or significant change.