10. Which statement is correct regarding SIMPLE retirement plans?

A) Only the employer can contribute to the plan.

B) This plan can only be adopted by employers with 50 or fewer employees.

C) Employer contributions must vest within three years.

D) SIMPLE plans are not subject to nondiscrimination rules.

11. Gary is a self-employed CPA whose 2018 net earnings from his trade or business (before the H.R. 10 plan contribution but after the deduction for one-half of self-employment taxes) is $225,000. What is the maximum contribution that Gary can make on his behalf to his H.R. 10 (Keogh) plan in 2018?

A) $18,500

B) $45,000

C) $55,000

D) $60,000

12. A partnership plans to set up a retirement plan to benefit the partners and the employees. All of the following retirement plans are appropriate except

A) an H.R. 10 (Keogh) plan.

B) a Solo 401(k).

C) a SEP IRA.

D) a SIMPLE plan.