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Which of the following are acceptable reasons for an employer to terminate a qualified retirement...

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Accounting

Which of the following are acceptable reasons for an employer to terminate a qualified retirement plan?

1. The employer is not profitable and cannot afford to make plan contributions.

2. The employer wants to reduce the cost of retirement benefits. As a result, the employer terminates a defined benefit plan and replaces it with a 401(k) plan.

a. 1only.

b. 2 only.

c. Both 1 and 2.

d. Neither 1 nor 2.

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