Statement regarding profit sharing plans

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Reference no: EM1340038

Which of the following statements concerning profit-sharing plans is correct?

I. Deductible contributions up to 25 percent of covered compensation are allowed.

II. They can be designed to allow participants withdrawal flexibility.

III. They can only be funded if the employer has profits.

A. I only

B. II only

C. III only

D. I and II only

E. I, II, and III

Reference no: EM1340038

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