Which of the following describes the primary difference between a $401($k$)$ and a $403($b$)$ retirement plan?

Multiple Choice

The $403($b$)$ is a defined contribution$-$only plan.

The $401($k$)$ is restricted to investments in stocks only.

The $403($b$)$ is restricted to use by nonprofit companies.

The $401($k$)$ is a defined benefit$-$only plan.

How is disposable income computed?

Multiple Choice

Gross pay less pre$-$tax deductions

Gross pay less mandatory deductions

Gross pay less Social Security and Medicare taxes

Gross pay less pre$-$tax deductions and income taxes