George, age $58,$ is the majority shareholder$-$employee of a closely held corporation. He is $10$ years older than the next oldest employee of the corporation. He wants to offer a retirement plan for his company. Which of the following statements would you use to advise him about a target benefit plan?

Group of answer choices

With the additional cost of having an actuary review the plan every year, a target benefit plan is almost as expensive to administer as a defined benefit plan.

A target benefit plan is a type of defined benefit plan.

If the corporation installs a target benefit plan, this type of plan will favor the younger employees with larger annual contributions.

A target benefit plan will favor George and the other older employees with larger contributions than a normal money purchase plan.