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Which of the following are true of contributions to a SIMPLE IRA? (1) employee salary reduction contributions are subject to FICA (2) eligible employees may make catch-up contributions of $5,000 in 2011 (3) direct employer contributions are not subject to FICA (4) employers are required to make a contribution equal to 5% of compensation for all eligible employees a. (1) and (3) only b. (1) (2) and (3) only c. (2) (3) and (4) only d. (1) (2) (3) and (4)

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Accounting Basics, Accounting

Category:- Accounting Basics
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