Which statement regarding Section $401($k$)$ plans is CORRECT?

A$)$

A Section $401($k$)$ plan is a nonqualified profit$-$sharing or stock bonus plan.

B$)$

Employer contributions and their accrued earnings are always immediately $100\%$ vested in the plan.

C$)$

$401($k$)$ plans allow workers to contribute toward their retirement.

D$)$

Elective deferrals in a cash or deferred arrangement $($CODA$)$ are not subject to FICA and FUTA taxes.