Under a Defined Benefit Plan,the Annual Benefit Payable to an Employee

question 80

True/False

Under a defined benefit plan,the annual benefit payable to an employee is limited to the smaller of $200,000 (in 2012)or 100% of the employee's average compensation for the highest 3 years of employment.

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Definitions:

Kidney Transplants

A surgical procedure to place a healthy kidney from a donor into a person whose kidneys no longer function properly.

Living Donors

Individuals who donate a kidney, part of their liver, or other organs while they are still alive to someone in need of a transplant.

Required Response

A mandated or obligatory reaction or reply to a particular situation, question, or stimulus.

Organ Donors

Individuals who offer their organs or tissues for transplantation to another person in need, either during their lifetime or after death.