Under a Qualified Pension Plan

question 78

Multiple Choice

Under a qualified pension plan
I.The yearly earnings on the pension plan assets are taxable income to the employee.
II.An employer's contribution is not taxable income to the employee at the time of the contribution.
​

• A)Only I is correct.
• B)Only II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

---

Definitions:

Costal Cartilages

Bars of hyaline cartilage that connect the ribs to the sternum, contributing to the elasticity and expansion capability of the rib cage.

Adult Skeleton

The fully developed, mature skeleton of an adult human, comprising 206 bones that provide structure, protection, and leverage for movement.

Buffer Blood pH

Biological systems that maintain the pH of blood within a narrow range, crucial for the proper functioning of the body's cells and organs.

Inorganic Salts

Inorganic salts are compounds comprised of minerals that play various critical roles in biological processes, including nerve transmission, muscle contraction, and hydration.