Which of the following is not true regarding executive loans?

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.

“Pure” savings plans, featuring only after-tax employee contributions, are very common.

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

Which of the following is not true regarding executive loans?

Which of the following employers can offer a Section 457 plan?

Winston Cantrell earns $70,000 annually as a business professor at Greenlaw University. Winston is a participant in the university’s defined benefit plan. Five years ago, he began doing some management and marketing consulting for small business owners. He now earns $35,000 a year as a self-employed person in addition to his university income. Winston is considering adopting a money purchase Keogh for this self-employed business. As his financial advisor, you tell Winston

A unit credit formula is based on the employee’s age.