Just Like Distributions from Qualified Retirement Plans, Distributions from Nonqualified

question 36

True/False

Just like distributions from qualified retirement plans, distributions from nonqualified deferred compensation plans are taxed as ordinary income to the recipient.

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Definitions:

Personally Accountable

The responsibility an individual takes for their actions, including the consequences and outcomes of those actions.

Indispensable

Absolutely necessary or essential for something to function properly or to achieve a specific result.

Most Skilled

Referring to individuals or entities that possess the highest level of ability or expertise in a specific area or field.

Task Outcome

The result or end product of carrying out a specific task.