Ask Question
27 August, 20:48

Tom quits his job with $120,000 in his employer's qualified retirement plan. since he is broke, tom instructs the plan trustee to pay him the balance of his retirement account. how much will tom receive when he gets his check from the retirement plan?

a. $120,000

+5
Answers (1)
  1. 27 August, 21:11
    0
    Depends on the plan, did he pay taxes on it when he was paying to it or does he after, and if so what's the tax he must pay?
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Tom quits his job with $120,000 in his employer's qualified retirement plan. since he is broke, tom instructs the plan trustee to pay him ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers