Which of the following is required for a plan to be qualified?

For a plan to be considered qualified under the Employee Retirement Income Security Act (ERISA) and relevant tax laws, it is essential that the plan is formally written and communicated to employees. This requirement ensures transparency and understanding of the plan's terms, conditions, and benefits among all participants. A formally written plan provides a record that can be referenced in disputes and helps ensure compliance with regulatory requirements.

Additionally, clear communication promotes employee engagement and trust, allowing workers to comprehend their rights and responsibilities regarding the benefits they are entitled to under the plan. This is vital for fostering a positive employer-employee relationship and securing the plan's intended purpose to provide retirement benefits efficiently.

The other options presented are inconsistent with the requirements for a qualified plan. For instance, a qualified plan must not favor highly compensated employees over the rank-and-file employees, aiming for a level of fairness and equality. It must also be designed to be a permanent benefit program, one that is structured to support employees over the long term, rather than being temporary. Lastly, a qualified plan is designed for the benefit of employees, not exclusively for the employer’s interests; hence benefiting a select group within the company contradicts the fundamental purpose of qualified plans.