16. Which of the following statements is (are) true? a. A SEP requires the plan sponsor to provide at least a 100% match up to 3% of all employee deferrals. b. A SEP plan can be established by employers who employ more than 100 employees who can earn $5,000 or more during the preceding calendar year c. SIMPLEs can be either contributory or noncontributory plans, whereas SEP plans are always noncontributory. d. An employer who wants to share the responsibility of retirement plan funding should establish a SIMPLE rather than a SEP. a. 4 only. b. 2 and 3 c. 1,2, and 4 d. 2, 3, and 4 17. Which of the following statements regarding a SEP is true? The maximum contribution to a SEP is the lesser of 100% of compensation or $46,000 for 2008 2. A SEP is appropriate for an employer with many part-time employees who want to limit coverage under the SEP 3. Contributions to a SEP must vest at least as rapidly as a 5 year cliff vesting