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Which correct response that bruce should provide grimley

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Problem 1: Grimley owns a small bicycle repair shop called Cycle Doctor. The shop employs Steven and Pam full-time, and just this year hired Creole part-time. The company does not currently offer any form of registered pension plan for its employees. However, Grimley is pondering whether the company should offer a pooled registered pension plan (PRPP). When Grimley asks Bruce, an insurance agent, about PRPPs, which of the following is the CORRECT response that Bruce should provide Grimley?

a) If the PRPP is established, it will be administered by a third party on behalf of Cycle Doctor.
b) If the PRPP is established, Cycle Doctor will be required to make contributions to the plan.
c) Cycle Doctor must implement a PRPP because they do not have another registered pension plan.
d) Once established, all employees of Cycle Doctor will be immediately eligible to participate in the PRPP.

Reference no: EM132973027

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