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

question 74

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 $5,100.
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.

• 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:

Research-informed Practice

The integration of empirical evidence and scientific studies into professional practice to enhance effectiveness and outcomes.

Treatment Conferences

Gatherings or meetings focused on discussing and sharing advances, techniques, and outcomes related to medical or therapeutic treatments.

Confidentiality

The ethical principle of keeping personal, sensitive, or proprietary information secure and private.

Ethical Principle

A fundamental guideline or rule that helps in making decisions that honor moral values and respect for individuals, often foundational in professions and governance.