Which of the Following Statements Is Incorrect

Question 46
Multiple Choice

Which of the following statements is incorrect? A)An employer can require employees to make contributions as long as the plan is non-discriminatory. B)A profit-sharing plan does not qualify as a pension plan because the amount of profit in a year cannot be known in advance. C)Qualified pension plans may be contributory or noncontributory. D)With a defined-contribution plan,the amount of total retirement benefits is unknown.