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

question 35

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 $5,300.
II.Match the employee's contribution up to a maximum of 3 percent of the employee's compensation with a maximum contribution of $12,000.
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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:

Orally Fixated

A psychoanalytic concept suggesting that an individual is focused on oral pleasures such as eating or smoking, stemming from early childhood.

Masculine Gender Identity

A personal identification with culturally defined masculine traits, roles, and behaviors, which can vary across different societies and time periods.

Carl Jung

A Swiss psychiatrist and psychoanalyst who founded analytical psychology and introduced concepts such as the collective unconscious and archetypes.

Alfred Adler

An Austrian psychotherapist and founder of the school of individual psychology, known for his theories on the importance of feelings of inferiority.