45. ls the making ofa non-discriminatory loan to a qualifid plan participant a pro transaction under ERISA? a) Yes b) No 46 Which oneofthef ollowing early distributions from an IRA will be subject to 10% excise tax penalty, in addition to income tax? Payment is made to an alternate payee under a qualified domestic relations order a) QDRO) b) Payment is made for qualifying first time home buying expenses (up to $10,000). c) Payment is made for qualified higher education expenses for the owner's grandchild. d) Payment is made to an employee who is age 55 and separates from service for early retirement. 47. A retiring owner, age 71, has named his adult (younger) son as the designated beneficiary for his IRA. What is the maximum length of time over which distribution of the account value may be paid for income tax purposes? a) Over a five-year periocd Over the recalculated remaining single life expectancy of the son b) c) Over a substantially equal time for periodic payments d) Over the remaining single life expectancy of the son reduced by one year 48. After two years of plan participation, a participant in a SIMPLE IRA can roll the account proceeds to all of the following plans or accounts except a) SEP IRA b) A 403(b) plan c) A 457(b) plan d) A designated Roth 401(k) account 49. The Construction Company has a 401k) plan that permits participants to take loans up to the maximum legal limit. David, an employee of the company, is a participant in its 401(k) plan that currently has a $210,000 vested account balance. Assuming David had no previous loans from the plan, what is the maximum loan he may take from the 401(k) plan? a) 10,000 b) S 50,000 c) $105,000 d) $210,000