Shaun Evans: Attempt 1 A b) False Question 21 (1 point) A defined-contribution plan with a formula of 4 percent of total compensation and 2 percent of compensation earned in excess of $60,000 satisfies the integration requirements. D a) True b) False Question 22 (1 point) Saved A participant who defaults on a plan loan witl have to pay income tax on the loan amount and may have to pay a 10 percent excise tax if the distribution is made prior to age 59 1/2