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Employees must meet all of the following requirements to participate in a SIMPLE Plan EXCEPT:
Options
a. Early withdrawals are subject to a 25% penalty if withdrawn within the first two years.
b. All employees over 21 years of age who have one year of service with the company must be eligible to participate.
c. Participating employees must contribute at least 2% of compensation.
d. Any employees with compensation of $5,000 or more can participate.
Answer: C
The above question Employees must meet all of the following requirements to participate in a SIMPLE Plan EXCEPT:, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.
