Financial
Planning Questions
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Profit-sharing plans can be designed to allow
employees to withdraw funds from participant accounts as early as 2 years after
they were contributed by the employer assuming that the employee has worked for
the employer for at least 5 years.
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True
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False
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The employer must have current or accumulated
profits in order to make contributions to a profit-sharing plan.
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True
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False
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A 401(k) provides an employee the ability to
save for his or her own retirement, but it does not permit the employer to
contribute.
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True
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False
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Employee salary deferral contributions to a
401(k) plan are always 100 percent immediately vested.
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