Multiple Choice

$1$ point

What is a difference between a traditional Section $401(k)$ plan and a Section $401(k)$ plan established as part of a savings incentiv

The SIMPLE $401($k$)$ may not include loan or hardship withdrawal provisions similar to the traditional Section $401($k$).$

The elective deferral amounts that are possible in a SIMPLE $401($k$)$ are greater than those permitted in the traditional Sec

The SIMPLE $401($k$)$ does not have to satisfy the special actual deferred percentage $($ADP$)$ and actual contribution percent the traditional Section $401(k)$ ptan.

The SIMPLE $401($k$)$ does not require a mandatory employer contribution, unlike a traditional Section $401($k$)$ plan.