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16. Errol Turner is considering implementing a retirement plan for his company, Turner Pickles, and its employees. His requirements for implementing this plan are that

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16. Errol Turner is considering implementing a retirement plan for his company, Turner Pickles, and its employees. His requirements for implementing this plan are that it allows flexible contributions of up to 25% of covered payroll; makes Section 401(k) elective deferrals available; integrates with Social Security; and uses a graded vesting schedule. Considering these requirements, which of the following plans is most appropriate for Turner Pickles? A. Stock bonus plan B. Money purchase pension plan C. ESOP D. Simplified employee pension (SEP) plan 11f

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