All of the Following Are Requirements of a Qualified Pension

question 57

Multiple Choice

All of the following are requirements of a qualified pension plan except:

• A)The plan must be in writing.
• B)The plan cannot discriminate in favor of highly paid employees.
• C)The plan must be for the exclusive benefit of the employees or their beneficiaries.
• D)The plan must cover all employees who have worked for the company more than 18 months.
• E)The plan must limit the amount of contributions that can be made to the plan and/or the benefits received from the plan.

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Definitions:

Mishandling

Inappropriate or careless management, leading to damage or loss.

Harmful

Causing or potentially causing damage, injury, or negative effects to someone or something.

Make Goods

Products or services offered to compensate for a deficiency or to fulfill a previously unmet obligation.

Sell or Lease

The commercial decision to either transfer ownership of a property or product for a price or to grant its use to someone else under a rental agreement.