Which of the following requirements should be fulfilled by a plan to be qualified?
A)The plan must be designed to be permanent and have continuing contributions.
B)The plan must be legally binding, in writing, and communicated clearly to all the stakeholders of the company.
C)The plan must be for the exclusive benefit of the employees rather than their beneficiaries.
D)The plan must not be applicable to the highly compensated employees of the organization.
E)The principal or income of the pension plan cannot be diverted to any other purpose even if the assets exceed those required to cover accrued pension benefits.

Question

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The Answer of Which of the following requirements should be fulfilled by a plan to be qualified?
A)The plan must be designed to be permanent and have continuing contributions.
B)The plan must be legally binding, in writing, and communicated clearly to all the stakeholders of the company.
C)The plan must be for the exclusive benefit of the employees rather than their beneficiaries.
D)The plan must not be applicable to the highly compensated employees of the organization.
E)The principal or income of the pension plan cannot be diverted to any other purpose even if the assets exceed those required to cover accrued pension benefits.

Which of the Following Requirements Should Be Fulfilled by a Plan