Which of the Following Statements Is (Are)true with Respect to SIMPLE

question 25

Multiple Choice

Which of the following statements is (are) true with respect to SIMPLE retirement plans?
I.Only large employers can start a SIMPLE plan,provided the employer does not maintain another qualified plan.
II.SIMPLE plans are exempt from most nondiscrimination and administrative rules that apply to qualified plans.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Edmonton

The capital city of Alberta, Canada, known for its cultural, governmental, and educational institutions.

Calgary

A city in the Canadian province of Alberta, known for its high quality of life and as a center for Canada's oil industry.

Invitation to Treat

An indication by a person that they are prepared to negotiate the terms of an offer, but it is not in itself an offer that can be accepted to form a contract.

Option Agreement

A contract granting a party the right, but not the obligation, to buy, sell, or engage in a specific transaction at agreed terms within a specified time.