John would like to establish an employer-sponsored retirement plan for Playful Paws Inc. He has the following preferences:

• He would like a plan that includes an employer contribution, at least for the full-time employees.
• He does not want his business to be responsible for any investment risk.
• It is not important that the plan design allow for Roth contributions.
• He would like the administrative time and costs of the plan to be reasonable. (no ACP/ADP testing)
• He wants to have a 2023 contribution for himself of $8,000 (between any salary deferrals and any employer contribution).
• For budgeting reasons, he would like a plan that requires a total employer contribution of $8,000 or less for 2023. For any plan design with a matching formula, assume all eligible employees make enough salary deferrals to qualify for the full match.
  1. Identify two plans that you believe best meet these specifications. Then, compare four features of the two plans that differ as part of your analysis.

1. Identify your choice (from the two) and support your answer. This section should be 150-200 words.