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[ The following information applies to the questions displayed below. ] Matthew ( 4 8 at year - end ) develops cutting - edge technology
The following information applies to the questions displayed below.
Matthew at yearend develops cuttingedge technology for SV Incorporated, located in Silicon Valley. In Matthew participates in SVs money purchase pension plan a defined contribution plan and in his company's k plan. Under the money purchase pension plan, SV contributes percent of an employee's salary to a retirement account for the employee up to the amount limited by the tax law. Because it provides the money purchase pension plan, SV does not contribute to the employee's plan. Matthew would like to maximize his contribution to his account after SVs contribution to the money purchase plan.
d Assume Matthew's annual salary is $ and that he is years old at the end of What amount cantribute to his account in
Matthew's contribution to account
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