Which of the following statements is (are) true?

1. A SEP requires the plan sponsor to provide at least a 100% match up to 3% of all employee deferrals.

2. A SEP plan can be established by employees who employ more than 100 employees who earn $5,500 or more during the preceding calendar year.

3. SIMPLEs can be either contributory or noncontributory plans, whereas SEP plans are always noncontributory.

4. An employer who wants to share the responsibility of retirement plan funding should establish a SIMPLE ratther than a SEP.

a) 4 only

b) 2 and 3

c) 1, 2, and 4

d) 1, 3, and 4