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Question
Which of the following is true of 401(k) plans?A. They refer to the leave policies which make no distinction between sick, vacation, and personal days and allow employees a set number of days off each year.
B. They are compensation plans which take no more than 3 percent of the annual personnel budget.
C. They allow the employee to have no control over the amount of their contribution and how the money is invested.
D. They are typically easier to administer and are less expensive than traditional pension plans.
Answer
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