The Internal Revenue Code Requires That Distribution of Retirement Benefits

question 15

Multiple Choice

The Internal Revenue Code requires that distribution of retirement benefits begins after the age of 70½ and that the benefits be paid out over a period that does not exceed

• A) The life expectancy of the individual
• B) The life expectancy of the individual, or the joint life expectancies of the individual and a designated beneficiary
• C) The life expectancy of the individual, or the age of 85 whichever is longer
• D) Fifteen years
• E) The number of years selected by the owner at the time he or she attained the age of 70½

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Definitions:

Operant Responding

A process in behavior analysis, emphasizing the influence of consequences on subsequent behavior.

Negative Reinforcement

A behavioral psychology concept where a response or behavior is strengthened by stopping, removing, or avoiding a negative outcome or aversive stimulus.

Observational Learning

The process by which individuals learn new behaviors by observing and replicating the actions of others.

Social Learning

the acquisition of behaviors and skills through the observation of and interaction with others in a social context.