Retirement plan Study guides, Class notes & Summaries

John and Carroll Speedwell are in their late 20s and recently married. Both John and Carroll have saved diligently for retirement while single. Now the couple wishes to purchase their first home and needs to save for the initial down payment. John and Carroll have come to you to help them develop a plan to save for their home while maintaining their retirement saving commitments. Create a 525- to 700-word plan in which you: Evaluate John and Carroll’s current retirement plans. Calculate curren...

UGBA 135 Midterm #1 Exam With 100% Correct Answers 2023 21st Century Millionare - Someone who can financially take care of themselves without help from any government agency, living the life they want to lead - After working for 40 years, only 5% of people are financially independent (don't need government assistance) - Cornerstone of their wealth = being frugal (not cheap, but value-oriented) --> budget and spend carefully, live within their means - People who succeed have goals D...

MCCC Entrance Exam (2023/2024) Already Graded Troop Leading Procedures (TLPs) Step 1 - Receive the mission. Step 2 - Issue a warning order. Step 3 - Make a tentative plan. Step 4 - Initiate movement. Step 5 - Conduct reconnaissance. Step 6 - Complete the plan. Step 7 - Issue the order. Step 8 - Supervise and refine. Dynamic process used by small-unit leaders to analyze a mission, develop a plan and prepare for an operation Tenets and Foundations of Unified Land Operations Simultaneity Depth Sy...

Under the DOL regulation, many advisors to retirement plans and their participants will be - Answer- 3(21) fiduciaries. They will act alongside other fiduciary service providers who are also not necessarily named in the plan document but who exercise discretionary control over plan provisions or plan investments. The advisor should educate the - Answer- plan sponsor about hiring fiduciary service providers, including the different roles service providers, including the different roles service...

Maximum Foreign Income Exclusion (Changes to 2016) correct answersIncreased to $101,300 Maximum Foreign Housing Exclusion (Changes to 2016) correct answersIncreased to $44.28 per day Modified Adjusted Gross (AGI) Limit (IRAs and Other Retirement Plans) correct answers*Max IRA Deduction remains at $5,500, ($6500 if age 50 older) ** If a taxpayer is covered by a retirement plan at work, the deduction for contributions to a traditional IRA is reduced (phased out) if the modified AGI is: ...

Under which situation must insurable interest exist between the applicant and insured at the time of application? - When a third-party applicant names themselves beneficiary. Which of the following is true about a decreasing term life policy? - The face amount reaches zero at policy expiration. Which of the following occurs immediately after the application is submitted and the initial premium paid? - The underwriting process begins For an individual long-term care policy there is an annua...

At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? - ANSWER Upon completion of the application Who elects the governing body of a mutual insurance company? - ANSWER policyholders An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the - ANSWER Fair Credit Reporting Act What type of reinsurance contract involves two companies automatically sharing their ri...

RPA 1 - Final Exam 100 Questions and Answers Latest 2022 Already Passed Top-hat plan A retirement plan that is unfunded and maintained by an employer primarily for the purpose of providing deferred compensation for a "select group of management or highly compensated employees" is called a (n): Economic Benefit A theory of income taxation that imposes current tax liability on taxpayers who receive something of reasonable value is known as the doctrine of: Must be given the election to remain ...

Can a group that is formed the sole purpose of obtaining group insurance qualify for group coverage? correct answer: No, the group must be formed for a purpose other than obtaining group insurance As it pertains to group health insurance, COBRA stipulates that correct answer: Group coverage must be extended for terminated employees up to a certain period of time at the former employee's expense After a person's employment is terminated, it is possible to obtain individual health insura...

Exam Simulator FL-LH - FL Health and Life and Annuity 100% Pass A non-contributory plan requires _________ participation of all eligible employees 100% A characteristic of preferred provider organizations (PPOS) would be: Discounted fees for the patient Which of the following areas of state regulation is NOT protected by the saving clause in ERISA? Commerce Additional coverage can be added to a whole Life policy by adding a(n): decreasing term rider What benefit does the payor clause on a Ju...