Answered

Westonci.ca is the best place to get answers to your questions, provided by a community of experienced and knowledgeable experts. Discover reliable solutions to your questions from a wide network of experts on our comprehensive Q&A platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Adrian's annual salary is $111,000. He is not eligible for a Roth IRA because he makes
too much money. His company offers a matching program that is 1:1 up to 3% of annual
salary. (do not include commas or dollar signs in your answers)
How much should he contribute to Roth IRAS?

Sagot :

azikennamdi

If he is not eligible for Roth IRAs, then he cannot contribute to Roth IRAs. However, he can contribute $3,330 monthly under his company's Matching Program.

What is a Roth IRA?

The Individual Retirement Account to which employees in the United States can contribute after-tax earnings is called the Roth IRA.

Under its governing principles, certain individuals whose annual income exceeds stipulated amounts are INELIGIBLE to contribute.

How do we arrive at  $3,330?

Recall that the question indicates that his company offers a matching program with a ratio 1:1 up to 3% of his annual salary.

Since his annual salary is $111, 000,

3% x 111,000 = 3,330.

This means that annually, the total matching contribution due to Adrian would be:

3,330 x 2 = 6, 660.

Learn more about Roth IRA at:
https://brainly.com/question/1300867
#SPJ1

We hope our answers were helpful. Return anytime for more information and answers to any other questions you may have. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.