1. Parker, age 51, earns $300,000 annually from Infinity, which sponsors a SIMPLE, and matches all employee deferrals 100% up to a 3% contribution. What is the maximum total contribution to Parkers account in 2018, including both employee and employer contributions?

a. $20,600. b. $23,600. c. $21,500. d. $24,500.

2. SEPs and SIMPLEs are tax advantaged retirement plans that are less complex than qualified plans and easier to implement. Which of the following statements is (are) true regarding SEPs and SIMPLEs? 1. For an employee with a salary of $30,000, more money can be contributed (from both employee and employer) to a SEP than a SIMPLE. 2. The vesting and distribution rules for both plans are almost identical. 3. Both plans have the same coverage and participation rules.

a. 2 only. b. 1 and 2. c. 2 and 3. d. 1, 2, and 3.

3. Harper, age 45, earns $300,000 annually from Atlas, which sponsors a SIMPLE, and the required non-elective contribution to all eligible employees. What is the maximum total contribution to Harper's account in 2018, including both employee and employer contributions?

a. $15,500. b. $18,000. c. $18,500. d. $21,000.