Question: A 401(k) plan: a) is a type of defined contribution pension plan; b) is a type of defined benefit pension plan; c) creates a liability

A 401(k) plan:

a)

is a type of defined contribution pension plan;

b)

is a type of defined benefit pension plan;

c)

creates a liability for the employer; or

d)

is a Tiffany bracelet, with 401 karats of gold.

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