Ssi And Pro-rata Necs

5 Questions | Total Attempts: 114

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Ssi And Pro-rata Necs

Questions and Answers
  • 1. 
    Non-Integrated is the most common type of NEC we see.
    • A. 

      True

    • B. 

      False

  • 2. 
    How much would a participant that made 50,000 receive if the plan was doing a 10,000 NEC using the Pro-Rata method?   Total compensation for all employees was 200,000.00
    • A. 

      3% or 1,500.00

    • B. 

      5% or 2,500.00

    • C. 

      6.5% or 3,250.00

    • D. 

      None of the Above

  • 3. 
    For a 2015 ER contribution, the Taxable Wage Base is 115,000
    • A. 

      True

    • B. 

      False

  • 4. 
    You as a CSR/KSR/CSM will not be responsible for calculating allocations for a plan -  that is done by Compliance.  What you will be responsible for, is explaining the basics of how the calculation works and possibly helping the plan with an example.  Examples can be found in LUMIN
    • A. 

      True

    • B. 

      False

  • 5. 
    As a general explanation, a plan using Social Security Integration will give eligible employees the base contribution- then those eligible employees who made over the taxable wage base will get the excess contribution on any compensation that is OVER the taxable wage base.
    • A. 

      True

    • B. 

      False

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