Fred and Flossie Are Married and Their Adjusted Gross Income

question 94

Multiple Choice

Fred and Flossie are married and their adjusted gross income is $194,000.Both Fred and Flossie are active participants in their company's qualified pension plan and have never established an Individual Retirement Account.What is the maximum combined amount they can contribute to Roth IRAs?

• A)$- 0 -
• B)$2,000
• C)$5,500
• D)$8,000
• E)$11,000

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Definitions:

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from everyone in the group and is used to generate and prioritize ideas.

Brainstorming

A group creativity technique designed to generate a large number of ideas for the solution of a problem.

Evaluation Apprehension

The anxiety or concern individuals may feel when they know they are being assessed or judged by others, which can impact performance.

Production Blocking

A hindrance in group ideation processes where an individual's contribution is limited or delayed due to the need to take turns.