Assume Bernard, age $55,$ is planning to retire in $10$ years at age $65.$ He is a sole proprietor of a business with $15$ employees but has not yet implemented a formal retirement plan for the business. Bernard's company currently has a strong cash flow, which is expected to continue. His own personal savings retirement need is $$85,000$ per year, and Bernard pays himself only $$140,000.$ The company can afford to contribute $$100,000$ this year for Bernard's account to any retirement plan that is implemented.

Furthermore, Bernard will commit to an annual contribution necessary to fund the retirement plan if needed. Considering only this limited information, which of the following types of qualified retirement plans would you recommend for Bernard and his business?

A$)$

Stock bonus plan

B$)$

Traditional defined benefit plan

C$)$

Profit$-$sharing plan

D$)$

Money purchase plan