Which of the following is true concerning IRA's,401(k)and 403(b)plans?
A)Not everyone is eligible to put funds into them.
B)There are restrictions on the amount of funds that can be put into them.
C)Except under unusual circumstances,there are penalties for withdrawals before retirement.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

All of the given statements are true concerning IRA's, 401(k), and 403(b) plans. Not everyone is eligible to contribute funds to these retirement accounts, there are limits on the amount that can be contributed each year, and early withdrawals are generally subject to penalties unless certain exceptions apply.

Which of the Following Is True Concerning IRA's,401(k)and 403(b)plans