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:

Gas Chromatograph

A sophisticated analytical instrument used to separate, identify, and quantify compounds based on their volatility.

Arson

The criminal act of deliberately setting fire to property, often with intent to cause damage.

House Fire

A destructive event involving the combustion of a dwelling, often resulting in damage and danger to occupants.

Reliable Evidence

Information or data that is dependable and can be trusted to be accurate for use in making decisions or drawing conclusions.