1.) Which of the following statements concerning defined-contribution plans that integrate with Social Security is correct?

Annual non-discrimination testing is required for a plan that integrates with Social Security.

If employees receive a contribution of 3% of total compensation, then an additional 3% of total compensation can also be contributed for compensation between the integration level and the income cap.

The maximum integration level is $275,000.

Only money-purchase pension plans can have a formula that integrates with Social Security.

2.) Which option below could happen in the event that a plan loan is defaulted upon for a participant who is 35 years old? (select all that apply)

The outstanding loan balance is fully taxable.

The loan can just rollover to an IRA.

A 10% penalty will be assessed on top of taxation.