SIMPLE Plans Are Not Subject to the Nondiscrimination Rules for Other

question 31

True/False

SIMPLE plans are not subject to the nondiscrimination rules for other qualified plans.

---

Definitions:

Ordinary Care

The level of care that a reasonably careful person would exercise under similar circumstances to avoid harm to themselves or others.

Prudent Person

A legal standard referring to the hypothetical individual who exercises the care, diligence, and wisdom that a reasonable person would under similar circumstances.

Checkroom

A place where visitors can deposit their personal belongings, such as coats and bags, for safekeeping.

Bailment

The act of placing property into the temporary custody or care of another, typically under an agreement for a specific purpose.