Jesus is an engineer who owns his own consulting firm and has implemented a retirement plan for his employees. The plan must cover all employees who are at least age 21 and have worked for Jesus for three of the last five years (including part-time employees). Contributions must be made for employees who earned at least $750 in 2023. The plan can exclude union members if they have their own retirement plan. Which type of plan has Jesus selected? a. SIMPLE IRA. b. Section 403(b) plan. c. Simplified employee pension (SEP) plan. d. SARSEP plan.e following are reasons a small business might choose the SIMPLE over a Section 401(k) plan? a. A Section 401(k) plan would be top heavy (benefits for key employees will exceed 60% of total benefits), and the employer wants to minimize employer contributions. b. Because a SIMPLE is less costly to operate, it is generally the better choice if the employer is not concerned about the design constraints of the plan. c. All of these are reasons. d. The employer expects that it could not satisfy the Section 401(k) nondiscrimination test. following statements with respect to simplified employee pension (SEP) contributions made by an