Scott,age 68,has Accumulated $850,000 in a Defined Contribution Plan,$100,000 of Which

question 99

Multiple Choice

Scott,age 68,has accumulated $850,000 in a defined contribution plan,$100,000 of which represents his own after-tax contributions.If the full amount is distributed in 2012,his early distribution penalty is:

• A) $0.
• B) $75,000.
• C) $85,000.
• D) $127,500.
• E) None of the above.

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Definitions:

Purging

Engaging in behaviors such as vomiting or using laxatives to expel food from the body, often associated with eating disorders.

Excessive Exercise

Engaging in physical activity to an extreme level that surpasses health benefits, often resulting in physical harm, psychological distress, or interference with usual activities.

Broca's Area

A region in the frontal lobe of the dominant hemisphere (usually the left) of the brain with functions linked to speech production.

Wernicke's Area

A region of the brain that is important for language development; it is associated with the comprehension or understanding of written and spoken language.