Which of the following statements regarding the funded status of a defined-benefit plan is INCORRECT?

Group of answer choices

If the plan is 75% funded, then the plan can use the 7-year smoothing process to catch up.

All defined benefit plans are required to be pre-funded.

If the plan is 85% funded, then the plan can use the 7-year smoothing process to catch up.

If the plan is 95% funded, then the plan can use the 7-year smoothing process to catch up.