All of the following statements concerning profit-sharing plans are correct EXCEPT:

-They allow for a deductible contribution of up to 25% of the aggregate compensation of all eligible participants.

-They can only be funded if the employer has profits.

-They can be designed to allow plan sponsors contribution flexibility.

-They can be designed to enable the employer to periodically skip contributions if the business is not profitableas long as the periodic skipping does not become a frequent trend.