What Are the Advantages to a SIMPLE Plan for Retirement

question 114

Multiple Choice

What are the advantages to a SIMPLE plan for retirement for the small business owners?

• A)The plan is very easy to set up.
• B)The plan works well for small business owners with 100 employees or less.
• C)The small business owner has some flexibility in determining how much to contribute to the plan.
• D)All of the above are correct.
• E)Only A and B are correct.

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Definitions:

Compensation Level

The relative amount of payment or reward that an employee receives for doing their job, including wages, salaries, bonuses, and benefits.

Markov Model

A statistical model that predicts a system's future state based on its current state, often used in decision-making processes.

Probabilistic Model

A mathematical model that incorporates the element of chance or uncertainty to predict outcomes.

Personnel Supply

The availability of qualified and interested candidates in the labor market that an organization can recruit and hire to meet its workforce needs.