Which of the following statements regarding an age-based profit-sharing plan is correct?

1. An age-based profit-sharing plan provides a greater benefit to those plan participants whose earnings exceed the Social Security wage base and who are over fifty years old.

2. An age-based profit-sharing plan only provides a benefit to those plan participants whose age is within 10 years of the age of the owner of the plan sponsor.

3. An age-based profit-sharing plan provides greater benefits to the older plan participants.

4. Younger plan participants in an age-based profit-sharing plan usually receive the majority of the profit-sharing plan allocation.