Truth in Lending requirements apply to every loan an employer makes.

An individual who has a Keogh plan cannot also invest in a traditional or Roth IRA.

An employer can sponsor an IRA for employees. Which of the following types of programs can be used for this purpose?(I)Rollover IRA(II)Deemed IRA(III)SEP(IV)SIMPLE IRA

Which of the following pieces of information about a client’s employee benefits is needed?

Joan Garvey owns Garvey Management, a property management company. Last year, Garvey Management installed a qualified defined benefit plan. A small portion of the plan is invested in real estate. Joan hired Hank Thomas, an actuary, to evaluate the plan on an annual basis. Hank’s lease in his old office space ran out, and Joan offered to let him occupy an office rent-free in one of the buildings that is in the qualified plan’s portfolio. This arrangement would be an acceptable transaction under ERISA.

Elective deferrals in a 401(k) plan can be distributed upon occurrence of all of the following, except

A “listed transaction” is:

Well Corporation has a life insurance policy on the life of the owner Ben Well as part of his defined benefit plan. Ben plans to retire in five years at the age of 65. At that time, he will receive $2,000 per month. The face value of his insurance policy is $210,000. The IRS will treat Ben’s life insurance plan as an incidental death benefit.

Contribution limits for a SIMPLE IRA are the same as other qualified plans, but with less administrative cost.

It is always better to roll over qualified plan assets to an IRA rather than keep the assets in the plan.