Carl, age $55,$ is a long$-$time client and is meeting with you to review his retirement assets. He maintains a traditional IRA and several mutual funds, as well as participating in his employer's $401($k$)$ plan and cash balance pension plan. Carl informs you he is in the process of divorce and he is currently negotiating the splitting of retirement assets. Each of his accounts has grown to have significant balances, and Carl would like to reach a settlement in the most tax$-$efficient manner. Which of these are recommendations you should make to Carl?

I.$)$ Advise Carl to make a loan from the $401($k$)$ plan to pay his ex$-$spouse her portion

II$.)$ Advise Carl to explore having a QDRO executed to pay his ex$-$spouse her portion from his qualified plans

III.$)$ Because they are nonqualified, liquidate the mutual funds in sufficient amounts to pay his ex$-$spouse her portion

IIII.$)$ Remind Carl to speak with his attorney and retirement plan administrator to review his beneficiary designations

I and IV

I and III

II and IV

II and III