What Is the Maximum Contribution for Defined Contribution Plans in 2015

question 8

Multiple Choice

What is the maximum contribution for defined contribution plans in 2015?

• A) Lesser of $50,000 or 50 percent of compensation
• B) Lesser of $40,000 or 100 percent of compensation
• C) Lesser of $53,000 or 100 percent of compensation
• D) A flat $50,000
• E) Contribution is based upon adjusted gross income

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Definitions:

Synthesis Reaction

A chemical reaction in which two or more substances combine to form a new, more complex compound.

Dipeptide

A molecule consisting of two amino acids joined by a single peptide bond, a basic building block of proteins.

Amino Acids

Organic compounds that serve as the building blocks for proteins, necessary for various bodily functions.

Electrolyte

Cation or anion in solution that conducts an electric current.