Nino, who is 28 years old, quit his job with Motors Inc. on April 30 this year (2024). Before quitting, Nino had earned $32,000 of compensation and deferred $6,000 to the SIMPLE sponsored by Motors Inc. If during the remaining months of 2024 Nino earns $55,000 from his new employer who sponsors a 401(k) plan, Nino may defer up to $17,000 of the $55,000 of compensation to their 401(k) plan. Question 11 options: True False