Kryptonite is a telecommunications provider located in Iowa with hundreds of thousands of employees. Their CEO, Clark Kline is considering the replacement of their expensive defined benefit (DB) pension plan which requires large contributions every year with a 401(k) where the employees will bear the investment risk. The majority of the workforce is young and the top executives are ll in their 50's and 60's. 2. An intern that works for you recommends utilizing a DB.K plan. What is your opinion of using such a plan in this case? 3.Who would benefit the most from the change away form the DB plan to a 401(k)? 4. What is the maximum contribution to a 401(k) of a worker age 56, who earns $200,000 per year as a factory worker with Kryptonite? 5. Louis Kent has been with Kryptonite for 10 years but is nervous now that Clark has taken over operations. She wants to know her options regarding taking money out of the 401(k) at a later date. You correctly tell her that she can access her 401(k) funds without penalty under what eight circumstances? 6. Clark gas heard that ADP testing is an issue for 401(k) plans. What are three ways to minimize that issue?