True or False: An employee under 21 is excluded from the top-paid group.

The correct interpretation of the statement is that an employee under 21 is excluded from the top-paid group. Under certain sections of the Internal Revenue Code, such as Section 414(q), a top-paid group consists of employees who meet specific criteria, including compensation levels. The regulations stipulate that employees in the top-paid group are typically limited to those who are at least 21 years old, among other factors. This age restriction plays a significant role in determining eligibility for certain benefits and classifications within a retirement plan. Therefore, since employees under 21 do not meet the established criteria for being included in the top-paid group, the statement is true.