Profit-sharing plans and stock bonus plans have similarities…

Profit-sharing plans and stock bonus plans have similarities and differences. Which of the following statements are correct regarding these plans? 1. Both plans allow participants to vote their shares held by the plan. 2. Stock bonus plans and profit-sharing plans can make lump-sum distributions of employer securities at the termination of an employee.

Crabby Jack, who is about 55 years old, runs a local Po’boy…

Crabby Jack, who is about 55 years old, runs a local Po’boy shop in New Orleans. He has several high school kids who work for him part-time. Jack’s mom, Robin, helps make the best duck Po’boy in the universe and works there full-time. Which of the following plans makes the most sense for Crabby Jack if he earns about $147,000 and does not want to spend too much on a retirement plan?

Of the following statements regarding target benefit pension…

Of the following statements regarding target benefit pension plans, which is true?1. Assuming equal salaries, a target benefit pension plan would allocate a higher percentage of its current contributions to an older employee.2. The plan sponsor guarantees an earnings rate for the contributions made to target benefit pension plans.3. A target benefit pension plan cannot allocate plan forfeitures to remaining plan participant accounts.

Which of the following factors are important in planning for…

Which of the following factors are important in planning for the psychological aspects of a business owner’s exit? 1. Identifying a new life-purpose post-exit.2. Maximizing the business’s market value.3. Understanding the emotional impact of leaving the business.4. Ensuring financial security in retirement.