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goji.go goji.go
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10 years ago
Felix is concerned about saving money for retirement. His company offers him a plan that requires him to contribute a specific amount of money each year through payroll deductions. At retirement, Felix will receive the monies he contributed as well as the fund's investment earnings. Felix is contributing to a(n) ________.
A) profit sharing plan
B) pension plan
C) 401(k) plan
D) ESOP
E) incentive-based payment structure
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Diesel
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bbb
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#1
10 years ago
B) Some pension plans specify the annual amount of money employees will contribute to their plan through payroll deductions. The actual amount received at retirement will depend on the amount contributed and the fund's investment earnings. These are also known as defined contribution plans. A 401(k) plan is different because there the employee decides the contribution amounts (up to a specified legal limit).
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goji.go Authorgoji.go
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10 years ago
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Diesel

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