Question
ABC Inc. sponsors a defined contribution plan. Seth, age 39, has compensation of $150,000 for the year. ABC has made a $20,000 profit sharing plan
ABC Inc. sponsors a defined contribution plan. Seth, age 39, has compensation of $150,000 for the year. ABC has made a $20,000 profit sharing plan contribution for Seth and $5,000 of plan forfeitures were allocated to Seths profit sharing plan during the year. How much can Seth defer into his CODA plan (401(k) plan) for 2017?
| a. | $18,000. |
| b. | $24,000. |
| c. | $29,000. |
| d. | $34,000. |
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Public School Finance Decoded
Authors: Jay C. Toland
1st Edition
1475827679, 978-1475827675
