Which of the following is NOT a component of a Master Plan utilized by a financial institution for a qualified retirement?

The structure of a Master Plan for a qualified retirement plan encompasses several critical components that ensure compliance and functionality. The correct answer indicates that a record-keeping document is not a fundamental part of the Master Plan itself.

While record keeping is indeed essential for the administration of any qualified retirement plan, including overseeing participant data and maintaining plan compliance, it is considered an ancillary or operational task rather than a core element of the Master Plan, which focuses on the overarching framework and legal compliance of the retirement program.

A basic plan document lays out the basic features and legal requirements of the retirement plan. The adoption agreement is crucial as it establishes the specific terms of the plan as adopted by the employer. A trust agreement governs how the invested assets are managed and protected for the plan participants, ensuring that the funds are properly held and utilized according to the plan's terms. Each of these components plays an integral role in forming a Master Plan that adheres to regulatory standards, whereas the record-keeping function supports these components but does not constitute a part of the formal plan itself.