Question 34 2 points

Assuming that taxable earnings are $51,200, which of the following is the lowest contribution limit applicable to a Payroll Deduction IRA?

$12,000

$5,500

$6,500

$17,500

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Question 35 2 points

Which of the following is true in regard to wage garnishments?

All the above.

The wage garnishment limit can be increased for child support.

The wage garnishment may only be ordered by court order or other legal proceeding.

The wage garnishment amount is based on disposable earnings.

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Question 36 2 points

In which of the following institution types may a 403(b) plan be made available to employees.

Both tax-exempt organizations and public education institutions.

all the above

Certain tax-exempt organizations.

Fortune 500 companies

Public education institutions

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Question 37 2 points

Prior to the current period, Sol Berenson, has earnings subject to FICA Tax of $126,700. During the current week, Sol has gross earnings of $1,900. How much FICA tax is owed by Sol for this period?

$27.55

$117.80

$31

$58.55