Which of the following choices is a characteristic of a qualified retirement plan?

1. The plan must be a defined contribution plan to be considered a qualified retirement plan.
2. The plan must be a defined benefit plan to be considered a qualified retirement plan.
3. The plan may NOT discriminate against the rank-and-file employees.
4. The plan can be funded with future operations rather than current contributions.

Answer rating: 100% (QA)

The plan may not discriminate against the rank and file employees Explanation ... View the full answer