which statements are true regarding a traditional individual retirement account? choose three answers…

which statements are true regarding a traditional individual retirement account? choose three answers. employers create them and match employee contributions. people can contribute to the account until retirement age. people can withdraw money penalty - free at any time. contributions to the account are limited each year. contributions reduce taxable income.

which statements are true regarding a traditional individual retirement account? choose three answers. employers create them and match employee contributions. people can contribute to the account until retirement age. people can withdraw money penalty - free at any time. contributions to the account are limited each year. contributions reduce taxable income.

Answer

Brief Explanations:

  • Traditional IRAs are set - up by individuals, not employers matching contributions. People can contribute until retirement age. Early withdrawals usually have penalties. There are annual contribution limits. Contributions are tax - deductible, reducing taxable income.

Answer:

  • People can contribute to the account until retirement age.
  • Contributions to the account are limited each year.
  • Contributions reduce taxable income.