Which of these statements regarding money purchase pension plans is (are) CORRECT?

1. The plan sponsor's costs are predictable, and the plan is easily administered.
2. The plan participant can easily understand the plan's simple design, and contributions are based on the participant's salary for each year of the participant's career, rather than on salary at retirement.
3. Contributions to a money purchase plan must be made every year.
4. Generally, employer securities held by the plan cannot exceed 25% of the fair market value (FMV) of the plan assets at the time the securities are purchased.

A)I, II, III, and IV

B)I and II

C)III and IV

D)I, II, and III