Brochures
SMALL BIZ RETIREMENT QUIZ

Do you think you have a pretty good idea of what is involved in sponsoring a retirement plan? Do you think you have a good feel for how much it would cost to sponsor a 401(k) plan for your workers? Find out for sure. Take the Small Biz Retirement Quiz, and compare your knowledge with that of your peers.

Answer each question and click on the "How did I do?" button at the end of the quiz to calculate your score.

1. You legally must match everything an employee contributes to a 401(k) plan.

True
False

2. Once you set up a plan, you can never terminate it.

True
False

3. You can share the administrative costs of a plan with your employees.

True
False

4. A company that offers a retirement plan is legally required to offer the plan to all of its employees.

True
False

5. Generally, companies with 401(k) plans are legally liable for the investment choices employees make.

True
False

6. In a 401(k) plan, an employee is always automatically vested in (entitled to) any money contributed by the employer to his or her account.

True
False

7. For $2,500 per year, a small employer could cover the operation of a basic 401(k) plan, including the costs of record keeping, administration, and communications.

True
False

Nothing contained herein is to be construed as an attempt to provide legal, accounting, actuarial, financial planning or other such professional advice. Any views expressed in this document should not be ascribed to the officers, trustees, members, or other sponsors of the Employee Benefit Research Institute, the EBRI Education and Research Fund, the American Savings Education Council, Mathew Greenwald & Associates, Inc., or their staffs.

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