Benefits in a DBO plan can be based on an employee’s average compensation over a specified period of time.

Defined benefit plans that use the flat amount formula provide a retirement benefit that is a percentage of the employee’s average earnings.

A target plan is a pension plan that uses an age-weighted contribution formula.

The Internal Revenue Code sets a maximum limit on the projected annual benefit that a defined benefit plan can provide.

Some broader-based educational assistance plans provide assistance for education not job-related.

A self-employed person can adopt an age-weighted or cross-tested plan.

A corporation can use the benefits from a key employee’s life insurance policy to buy stock from the employee’s estate.

The employer’s share and the employee’s beneficiary’s share of death benefits from a split dollar plan are generally income tax free.

Which of the following is not true regarding executive loans?

As part of the employee benefit planning process, a schedule should be established for reviewing and monitoring plan effectiveness.