Annette makes $96,000 per year working for an online e-magazine. Her company offers a 401K retirement plan in which they will match 45% of her contributions to
the 401K up to 9% of her salary. The company will only allow employees to make
contributions to the 401K to a maximum of 25% of their salary. For the year
in question, the maximum allowable contribution to any 401K is $22,000 since she is
over the age of 55. Using this information to answer questions 5-8.
a) What is the maximum Annette's employer will allow for her contribution based on
her salary?
b) What is the maximum contribution she could make based on her age?