Question ID: $1620942$

Which of these statements regarding money purchase plans is $($are$)$ CORRECT?

The plan sponsor's costs are predictable, and the plan is easily administered.

The plan participant can easily understand the plan's simple design, and contributions are based on the participant's salary for each year of the participant's career.

Contributions to a money purchase plan must be made every year.

Generally, employer securities held by the plan cannot exceed $25\%$ of the fair market value $($FMV$)$ of the plan assets at the time the securities are purchased.

A$)$

I and II