Nonqualified deferred compensation plans for government and tax-exempt entities, with special catch-up provisions. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Available to public schools and certain nonprofits, with unique contribution limits and catch-up provisions. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Designed for small employers, allowing employee deferrals and employer contributions, with specific eligibility and contribution limits. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Include ISOs and NQSOs, providing employees the right to purchase stock at a set price, with specific tax treatments. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Offer benefits to select employees without the restrictions of qualified plans, often involving deferred compensation. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Roth IRAs offer tax-free withdrawals and no required minimum distributions, while traditional IRAs offer tax-deferred growth. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Qualified plans have specific rules for distributions, including penalties for early withdrawals and required minimum distributions. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Employee stock ownership plans provide stock to employees, with special rules for voting rights and distributions. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Allow conversion of traditional IRAs to Roth IRAs, with tax implications based on the conversion amount. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Contributions are limited by earned income and age, with catch-up contributions allowed for those over 50. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Defined benefit and cash balance plans require actuarial calculations to determine funding needs. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Include defined benefit, cash balance, money purchase, and target benefit plans, each with unique funding and benefit structures. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Contribution limits for defined contribution plans are capped at the lesser of 100% of compensation or a specified dollar amount. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Require additional contributions for non-key employees if key employees hold more than 60% of plan assets. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Defined contribution plans often use a 2-6 year graduated or 3-year cliff vesting schedule. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Allow employers to contribute stock, with tax benefits for net unrealized appreciation on distributions. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Allow employee deferrals, often with employer matching, and are subject to ADP and ACP nondiscrimination tests. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Contributions are discretionary but must be substantial and recurring, with limits based on employer compensation. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Allows plans to provide additional benefits to employees earning above the Social Security wage base. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/
Defined as owning more than 5% of the company or earning over a specified amount, affecting plan testing. --The CFP Exam is known for its difficulty, and as I embark on this learning journey, I’ve found it to be quite challenging. I created this podcast to document my study notes, and I hope you find them helpful in your own preparation.-- More Exam Prep Content Visit: https://open-exam-prep.com/