The SuperRite Food Corporation plans on adopting a cash benefit plan. Which of the following statements would comply with ERISA rules?

(1) The maximum additions limit is defined by Section 415(c), which is the lesser of 100% of the participant’s earnings or $54,000 in 2017.

(2) The maximum annual additions limit is defined by Section 415(b), which is the lesser of 100% of the participant’s average three-year compensation (capped at the covered compensation limit) or $215,000 in 2017.

(3) The employer’s limit on tax deductibility is 25% of total covered compensation

(4) The employer’s limit

2 and 3

1 and 3

2 and 4