6 Which of the following statements regarding a money purchase plan is (are) correct?

1. The employee can choose from among different levels of contribution rates.
2. The employers contribution is a set formula often stated as a percentage of the employees pay deferral into the plan.
3. Employees may be permitted to make voluntary after-tax contributions into the plan.

1. None.
2. I only.
3. I and II only.
4. II and III only.
5. I, II and III.