Question

Which of the following are characteristics of a SIMPLE? A. Contributions to a SIMPLE are 100%...

Which of the following are characteristics of a SIMPLE?

A.

Contributions to a SIMPLE are 100% vested at all times.
B.

The maximum contribution to a SIMPLE is the lesser of 25% of compensation or $57,000 for 2020.
C.

A SIMPLE permits employer discretionary contributions.
D.

A SIMPLE imposes a 25% penalty on all distributions prior to age 59½.
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