$14$ Multiple Choice

$1$ point

Birs employer maintaint a target benefit plan. Ball is age $59.$ The plan was originally designed to benefit a $38-$year$-$old employee. There is also substantial turnover at Birs company. Which of the following statements is CORRECT?

Forteltures are likely to be allocated equally to Bill and the $38-$year$-$old key employee.

Bill's retirement benefit is funded through elective deferrals.

Contributions to the retirement plan are mandatory.

Bill knows eactly what retirement benefit to expect.