A Company That Maintains a SIMPLE-401(k)has the Option of Funding

question 23

Multiple Choice

A company that maintains a SIMPLE-401(k) has the option of funding the plan by
I.Contributing 2% of an employee's salary up to a maximum of $5,400.
II.Match the employee's contribution up to a maximum of 3 percent of the employee's compensation with a maximum contribution of $12,500.
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• A)Only I is correct.
• B)Only II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Binary Narratives

Stories or perspectives that divide elements into two oppositional categories, such as good vs. evil, male vs. female, obscuring the complexity of reality.

Michelle Obama

Former First Lady of the United States, known for her advocacy on poverty awareness, education, nutrition, physical activity, and healthy eating.

Stereotype

Oversimplified, generalized beliefs about a group of people that often ignore individual diversity and complexities.

Shareholders' Stake

The interest or share that an individual has in a company as determined by the number of shares owned.