Which of the following is not a characteristic of a qualified pension plan?
A. It can be limited to highly-compensated salaried employees.
B. It must be funded in advance of retirement.
C. Benefits must vest after a specified period of service.
D. It must cover at least 70% of employees.
Answer:A
Which of the following is not a characteristic of a qualified pension plan?
A. It can be limited to highly-compensated salaried employees. B. It must be funded in advance of retirement. C. Benefits must vest after a specified period of service. D. It must cover at least 70% of employees.