Which of the following is not a requirement for a qualified pension plan?
A. It cannot discriminate in favor of highly paid employees.
B. It must cover at least 80% of the employees.
C. It must be funded in advance of retirement.
D. Benefits must vest after a specified period of service, commonly five years.
Answer:B
Which of the following is not a requirement for a qualified pension plan?
A. It cannot discriminate in favor of highly paid employees. B. It must cover at least 80% of the employees. C. It must be funded in advance of retirement. D. Benefits must vest after a specified period of service, commonly five years.