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1.
How is FICA money obtained?
From employee paychecks. It is deducted from income.
2.
The Roth IRA features tax-free distributions.
True. In return, the contributions to it must have been taxed.
3.
If you are bound by contract to take withdrawals under certain conditions, you are under a distribution _______.
Requirement. You are not always bound under plans and options.
4.
Which of the following is not a tax shelter?
None of the above. All of them can grow tax-free.
5.
Within how much time must a retirement plan rollover occur if it is to avoid federal taxes?
Sixty days. This requirement is written into IRS law.
6.
Which annuity's payments change according to its investment performance?
Variable annuity. Although the payments from the other choices may vary, those variations would have to be variable annuities in order to change according to investment performance.