Question

Jose works for a toy manufacturer that invests an amount equal to a certain percentage of his pay each year into a trust fund account. His firm has contributed to this optional program every year, even when they lost money. His fund usually receives the 25% maximum allowed by law. What kind of retirement program does Jose have?
a) Defined benefit plan
b) 403(k)
c) Money purchase pension plan
d) Profit-sharing plan
e) Roth Individual Retirement Account

Answer

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