Question

Which statement about 401(k) plans is true?
A. 401(k) plans are sponsored by employers.
B. Employees can contribute an unlimited amount of income to
401(k) plans.
C. Employees are not allowed to make contributions to 401(k) plans.
D. 401(k) plans provide only one option for investment

Answer 1

The true statement about 401 k plans is that they are sponsored by employers.

What are the t 401(k) plans?

These are the retired accounts that are usually sponsored by a company. These accounts are known to have retirement accounts which employees contribute money to.

The employers here may also contribute to the account by matching the contributions.

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