/ Homework Answers / Business Management / 111.Funds deposited into an IRA cannot be withdrawn until you




111.Funds deposited into an IRA cannot be withdrawn until you retire. 




112.In order to qualify as a tax shelter, IRA saving plans must be invested in mutual funds. 




113.Withdrawals from an IRA prior to age 59½ generally are subject to taxes and a penalty. 




114.Earnings from traditional IRA investments are taxable at the time they are earned. 




115.A simple IRA, which allows workers to contribute larger amounts than a regular IRA, is available to employees who work for firms with fewer than 100 employees. 




116.The money a worker invests in a 401(k) retirement account reduces that worker's present taxable income. 




117.Employers often match part of the contribution of their employees into a 401(k) retirement plan. 




118.Large corporations with at least 500 employees can offer their employees a simple 401(k) retirement plan that allows for greater contribution maximums. 




119.Many small-business owners invest in 401(k) plans for their retirement. 




120.The best way to invest in a 401(k) plan is to use all of the money to buy stock in the company where you work. 





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