Question

Which of the following is defined as a type of investment account that in which a company takes money from an employee's paycheck before taxes and sets it aside for long-term investments until the employee's retirement?
A. 401(k) plan
B. Pension
C. Retirement
D. Social Security

I think its A

Answer 1

or C

Answer 2

Lemme check.

Answer 3

pen·sion1
ˈpenSHən
noun
1.
a regular payment made during a person's retirement from an investment fund to which that person or their employer has contributed during their working life.
historical
a regular payment made to a royal favorite or to an artist or scholar to enable them to carry on work that is of public interest or value.
verb

Answer 4

so it would be pension?

Answer 5

Not necessarily.

Answer 6

S: (n) 401-k plan, 401-k (a retirement savings plan that is funded by employee contributions and (often) matching contributions from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments yourself)

Answer 7

yep it is A lol!

Answer 8

Yep. I believe its A also.

Answer 9

Thanks Katlin!!!

Answer 10

yep!