John, who is age 47, makes $300,000 in salary in 2020. If John decides to make the maximum contribution to his SIMPLE IR

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answerhappygod
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John, who is age 47, makes $300,000 in salary in 2020. If John decides to make the maximum contribution to his SIMPLE IR

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John, who is age 47, makes $300,000 in salary in 2020. If John
decides to make the maximum contribution to his SIMPLE IRA, how
much is the total contribution amount (including the employer
match) ?
Question options:
$15,500
$22,500
$27,000
$9,000
Professor Hamill, who has taught at Texas A&M - Commerce
(TAMUC) for several years. He is currently 60 and is expected to
retire at 67. Dr. Hamill contributes to both 403(b) and 457 plans.
Since retirement is not far away, Professor Hamill desires to fully
fund his retirement accounts. For 2020, what is the total maximum
contribution that Professor Hamill can contribute to his retirement
?
Question options:
$26,000
$39,000
$52,000
$58,000
Which of the following plans permit employers to match employee
elective deferral contributions or make non-elective
contributions?
Question options:
1 only
2 and 3
1 and 3
1, 2 and 3
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