FINRA Series 6

Category - Series 6

Which of the following retirement plans requires the employer to match employee contributions in accordance with specific guidelines?
  1. 401(k) plans
  2. SIMPLE IRAs
  3. Section 457 plans
  4. both A and B
Explanation
Answer: B - The retirement plan that requires the employer to match employee contributions in accordance with specific guidelines is the SIMPLE IRA. SIMPLE is an acronym for Savings Incentive Match Plans for Employees. Although some employers offer some sort of matching contribution to 401(k) participants, it is not required that they do so. A Section 457 plan is a deferred compensation plan.
Was this helpful? Upvote!
Login to contribute your own answer or details

Top questions

Related questions

Most popular on PracticeQuiz