$34$

Mulliple Choice $1$ point

Which statements regarding integrating a plan with Social Security are true?

L$.$ Only the excess method can be used by a defined benefit penion plan.

II$.$ The maximum increase in benefits for eamings above the covered compeneation level is $26\mathrm{.}25\%$ for a defined benefit pension plan.

III. Because there is a disparity in the Social Security system all retirement plans are allowed integration with Social Security.

IV$.$ Under the offset method, a fixed or formula amount approximates the existence of Social Security benefits and reduces the plan formula.

I and II

II and IV

III and IV

$1\mathrm{.}41$ and $14$