Mike owns a motorcycle shop and wants to add a benefit plan for his employees. He has heard about age-weighted plans and thinks this may be the best plan. What should Mike know about age-weighted plans?
A) They must be combined with a qualified retirement plan.
B) They are exempt from non-discrimination testing.
C) Employer contributions must be "substantial and recurring."
D) These plans are tested under cross-testing rules.
Correct Answer:
Verified
Q29: Fred's company has committed a prohibited transaction
Q30: There are tax consequences for committing a
Q31: What is a distinguishing feature of a
Q32: Rick says that his employees are complaining
Q33: What type of qualified plan insists employer
Q35: Of all the benefits possible for a
Q36: Your new client owns her own company
Q37: Who would be a part of a
Q38: Seth wishes to circumvent the controlled group
Q39: Your client wants to provide a retirement
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents