Section A Directions: In this section, you will hear three news reports. At the end of each news report, you will hear two or three questions. Both the news report and the questions will be spoken only once. After you hear a question, you must choose the best answer from the four cho...
A pension, or defined benefit plan, is a retirement fund in which the company makes contributions during the work life of the employee. Upon retirement, employees receive a guaranteed payment that is typically based on a percentage of their average salary and the number of years with th...
The interest rate stays in force for the whole period. With a traditional deferred annuity there is a first year interest rate guarantee but the rate in subsequent years is set by the insurance company at its discretion, so long as the future interest rate remains at least above the annuity...
What is the Maximum Social Security Benefit at Full Retirement Age? If you retire at full retirement for Social Security benefits, you’ll receive 100% of your monthly benefit payment. SSI benefit amounts for 2025 are broken down into monthly payments as follows: $967 per individual $1,450...
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Form 5500 can be penalized twice—by the IRS and the DOL. The IRS penalties for a late filing without notice or a qualified extension are $250 per day, up to a maximum of $150,000. If that weren't enough, the DOL civil penalties would be up to $2,586 per day with no maximum....
The IRS allows four different types of precious metals in a precious metals IRA. IRA-approved precious metals include gold, silver, platinum, and palladium. However, only certain types of these precious metals are eligible for placement in an IRA. The primary requirement is for these precious ...
Mandy Sleight is a licensed property, casualty, life and health insurance agent with 20 years of experience in the industry. She has worked for major insurance companies like State Farm and Nationwide, and most recently as the Operations Coordinator for a startup employee benefits company. ...
A simplified employee pension (SEP) is anindividual retirement account (IRA)that an employer or aself-employed person can establish. The employer is allowed a tax deduction for contributions made to a SEP IRA and makes contributions to each eligible employee’s plan on a discretionary basis.1 Ad...
Tax deductibles offer several advantages for individuals and businesses. First, they serve as powerful incentives for specific behaviors. Not only is there a financial incentive for the taxpayer, but society can also benefit from those who help foster economic growth, social welfare, and individual w...