Question

Which of the following retirement plans places a maximum amount that an individual can contribute to the fund in a given year at $5,000?
a.
401(k)
b.
Tax-Deferred Annuity
c.
Pension
d.
IRAI

Answer 1

d. IRAI (Individual Retirement Account) — IRAs had a $5,000 annual contribution limit (for the period when that limit applied). 401(k)/tax‑deferred annuity/pension plans have different, generally higher or plan‑specific limits.