Ch. 9 Retirement Plans

An IRA owner can start making withdrawals and NOT be subjected to a tax penalty beginning at what age? 70 1/2 65 55 59 1/2

59 1/2

Which product would best serve a retired individual looking to invest a lump-sum of money through an insurance company? Variable Life Interest-sensitive Life Universal Life Annuity

Annuity

Which of these retirement plans can be started by an employee, even if another plan is in existence? Individual Retirement Account (IRA) Defined plan Keogh plan 403(b) plan

Individual Retirement Account (IRA)

Which plan is intended to be used by a sole proprietor and the employees of that business? SEP Plan Keogh Plan Individual Retirement Account (IRA) SIMPLE Plan

Keogh Plan

A qualified profit-sharing plan is designed to allow key employees to participate in the profits of the company allow employees to participate in the profits of the company keep key employees from leaving the company allow employees to elect company officers

allow employees to participate in the profits of the company