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5. Which of the following are characteristics of a SIMPLE? a. Contributions to a SIMPLE are 100% vested at all times. b. The

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Answer :- Option b), The maximum contribution to a SIMPLE is the lesser of 25 % of compensation or $56,000 for 2019.

Explanation :- The statement mentioned in option (b) the given question is proper charateristics of Savins incentive match plan for employees (SIMPLE). As per Interenal revenue service (IRS) Tax code, The employer contribution to SIMPLE IRA (investment retirement account) is allowable up to lower of $ 56000 or 25 % of employee compensation.

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