How much do you know about retirement plan contributions? Take this quiz and find out! Click the Next button to begin. 1. True or False. Anyone can contribute to an employer sponsored retirement plan. True False 2. Who determines the current year 402(g) contribution limit to 401(k) and 403(b) plans? Your employer You The IRS Nobody--there are no limits 3. Who can make a catch-up contribution? Anyone Retirees Participants over the age of 30 Participants over the age of 50 4. Which of the following contributions is taxed? Traditional, pre-tax contributions Employer contributions Health Savings Account (HSA) contributions Roth contributions 5. Which of the following contribution combinations is prohibited? Pre-tax and Roth contributions Employee contributions to an employer sponsored retrement plan and a Health Savings Account (HSA) Employee and Employer contributions to an Employer Sponsored Retirement Plan None of the above 6. Which of the following contribution combinations is prohibited? Employer profit sharing contribution Employee pre-tax contributions Employee Roth contributions Rollover assets from another plan 7. Evan is 30 years old and switched jobs mid year. He previously contributed 6% or $4,500 to his former employer’s 401(k). How much can he contribute to his new employer’s 401(k) Plan? 6% $4,500 Up to the difference between the current-year contribution limit and $4,500 Up to the current-year contribution limit 8. Cheryl will be 50 on December 31, 2018. When can she start making Catch Up Contributions to her Employer Sponsored Retirement Plan? January 1, 2018 December 31, 2018 January 1, 2019 December 31, 2023 9. Mary is 55 years old and makes $100,000 a year. Her employer permits contributions up to 10% of salary and also allows catch up contributions. If Mary wants to max out her account, how much can she contribute? $10,000 $16,000 $18,500 $24,500 10. True or False. If Kendra leaves her company before she is fully vested, the non-vested employer contributions are subject to forfeiture. True False Click on the Submit button to see your results. Time is Up! Time's up
