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4-11A George Clausen (age 48) is employed by Kline company and is paid a salaty of $42,640. He has just decided to join the
4-11A George Clausen (age 48) is employed by Kline company and is paid a salaty of $42,640. He has just decided to join the companys Simple Retirement Account (RA form) and has a few questions. Answer the questions for Ctausen. a. b. c. d. is the maximum that he can contribute into this retire- ment fund? $11.500 What would be the company's contribution? What would be his weekly take-home pay with the retire- ment contribution deducted (married, 2 allowances, wage- bracket method, and a 2.3% state income tax on total wages)? $437.68 What would be his weekly take-home pay without the retirement contribution deduction?
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