Jennifer age 54 earns 125000 annually from abc incorporated, Ask an Expert

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Jennifer, age 54, earns $125,000 annually from ABC incorporated. ABC sponsors a SIMPLE-IRA, and matches all employee deferrals 100% up to a 3% contribution. Assuming Jennifer defers the maximum to her SIMPLE-IRA, what is the total contribution to the account in 2017 including both employee and employer contributions?

a) $12,500

b) $15,500

c) $19,250

d) $31,250

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92365543

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