Which of the following statements concerning cash balance pension plans is correct?

I. The cash balance plan is generally motivated by two factors: selecting a benefit design that employees can more easily understand, and as a cost saving measure.

II. The cash balance plan is a defined benefit plan.

III. The cash balance plan is subject to minimum funding requirements.

A. I only

B. II only

C. III only

D. I and II only

E. I, II, and III