Which is the following is true about your pension? a) You can name someone other than your spouse as the beneficiary without your spouse knowing it b) You must have your spouse's permission to name somebody else as a beneficiary c) The funds in your pension plan disappear if you die prior to retirement. d) The person(s) named in your will have to be the same people named as beneficiaries of your pension plan.
Which is the following is true about your pension? a) You can name someone other than your spouse as the beneficiary without your spouse knowing it b) You must have your spouse's permission to name somebody else as a beneficiary c) The funds in your pension plan disappear if you die prior to retirement. d) The person(s) named in your will have to be the same people named as beneficiaries of your pension plan.
Chapter5: Deductions For And From Agi
Section: Chapter Questions
Problem 12MCQ
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Transcribed Image Text:Which is the following is true about your pension?
a) You can name someone other than your spouse as the beneficiary without your spouse
knowing it
b) You must have your spouse's permission to name somebody else as a beneficiary
c) The funds in your pension plan disappear if you die prior to retirement.
d) The person(s) named in your will have to be the same people named as beneficiaries of
your pension plan.
Which of the following statements is true?
a.
You are foolish to contribute to a 401k plan.
b.
You are foolish not to contribute to a 401k plan up to your employer's matching amount.
Earnings on a 401k plan are taxed as they accumulate.
d. Money going into a 401k plan is after tax money.
c.
Most public school teachers and governmental employees
a.
do not have a defined benefit pension plan
b.
are at the mercy of the stock market to determine the amount of pension they receive
c. don't get a pension other than social security
d.
have a defined benefit pension plan
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