Jaylen would like to start saving for retirement by establishing an employer-sponsored retirement plan for Troy Metals Inc. Additional objectives for the plan are to retain and reward current full-time employees of the business without being required to make a substantial annual commitment to retirement plan contributions. He would also like the administrative costs of the plan to be reasonable and he does not want his business to be responsible for any investment risk. Finally, he wants to encourage his employees to save for their own retirements using the plan. Jaylen has narrowed the choices for a retirement plan to the following options and has asked you to give your recommendation. State which plan is most appropriate and why. Provide two (2) cons for each of the plans you dont select and three (3) pros for the plan you select.

A. SIMPLE IRA

B. simplified employee pension (SEP)

C. cash balance plan

D. target benefit