Which of the following statements regarding 457 plans is(are) true? 1. An individual who defers $17,500 to his 403(b) plan during 2013 can also defer $17,500 to a 457 plan during 2013 (salary and plan permitting). 2. A 457 plan allows an executive of a tax-exempt entity to defer compensation into an ERISA protected trust. 3. In the final three years before normal retirement age, a participant of a government sponsored 457 plan may be able to defer $35,000 (2013) for the plan year.

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 employers who employ more than 100 employees who earn $5,000 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 rather than a SEP.