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:

Defense Mechanism

Psychological strategies employed by individuals to cope with reality and maintain self-image.

Mugged

Being attacked or robbed in a public place, often with the use of threats or violence.

Setting Boundaries

The process of establishing limits or guidelines to protect one's well-being and maintain healthy relationships.

Communication Interference

A phenomenon where the transmission of information is hindered by noise, physical barriers, or competing signals.