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Which of the following represents the best example of a transfer payment?
401(k) Plans
Retirement savings plans sponsored by an employer that allow employees to save and invest a portion of their paycheck before taxes are taken out.
Hourly Wage
The amount of money paid for each hour of work.
Nonexempt Employees
Workers who are entitled to receive overtime pay under the Fair Labor Standards Act (FLSA) for hours worked beyond the standard workweek.
FLSA Act
The FLSA Act, or Fair Labor Standards Act, is US legislation designed to protect workers against poor wages and excessive working hours, establishing minimum wage, overtime pay eligibility, and child labor standards.
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