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1.
Certain senior employees can make a catch-up contribution to their 457 plan in addition to the one already allowed.
True. There are restrictions and rules, but a certain class of employees does have this benefit.
2.
There are situations in which rolling over a 457 may result in you having to pay taxes.
True. If you don't roll over all of it, or if you don't place the funds into the new account within 60 days, you can be taxed on the amount that is not rolled over.
3.
There is no penalty on early distributions from a 457 plan upon termination of employment, whether voluntary or involuntary.
True. This is one way that 457s differ from other plans.
4.
If you work for a company that offers a 403(b) plan as well as a 457 plan, you can contribute to only one of them.
False. You can contribute to both of them.
5.
Which of the following words describe contributions that you can make to a 457 plan?
All of the above. All of the above are true of 457 plans.