Which Statement Is Correct Regarding SIMPLE Retirement Plans

question 52

Multiple Choice

Which statement is correct regarding SIMPLE retirement plans?

• A)SIMPLE plans are not subject to nondiscrimination rules.
• B)This plan can only be adopted by employers with 50 or fewer employees.
• C)Only the employer can contribute to the plan.
• D)Employer contributions must vest within three years.

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Definitions:

Significance Level

A threshold for determining whether a statistical result is considered statistically significant, usually denoted by alpha (α).

Statistical Inference

The process of drawing conclusions about population parameters based on data from a sample.

Descriptive Statistics

Statistical methods that summarize and describe the features of a collection of data, including measures of central tendency and variability.

Mean

The arithmetic average of a set of values or quantities, obtained by dividing the sum of all values by the number of values.