Which of the following statements regarding a cash balance pension plan are CORRECT?

It is a defined benefit pension plan with a guaranteed interest rate credit.

Funds contributed to the plan are typically invested more aggressively than required to achieve the guaranteed interest rate credit.

The employer assumes the risk of investment performance for the employee.

An increase in plan contributions may be necessary because of required PBGC insurance coverage.

$1$ and $2$

$2$ and $4$

$2,3$ and $4$

$1,2,3$ and $4$