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Mandy Thomas, age 47, is the owner of The Golf Pro Shop. Mandy wants to retire at age 55. The company adopted a defined benefit plan 2 years ago, 3 years after the business opened. Mandy wants to increase the amount that she contributes to her own retirement. Mandy can

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Mandy Thomas, age 47, is the owner of The Golf Pro Shop. Mandy wants to retire at age 55. The company adopted a defined benefit plan 2 years ago, 3 years after the business opened. Mandy wants to increase the amount that she contributes to her own retirement. Mandy can

A – increase the amount, but must also contribute to all other company employee accounts by the same proportion

B – she cannot increase her contribution

C – increase the amount, but maximum benefit will be cut in half because the plan is less than 10 years old

D – increase the amount without limit

E – increase the amount within limits set by the Internal Revenue Code

 
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