What Type of Retirement Plan Is a 401(k)

question 38

Multiple Choice

What type of retirement plan is a 401(k) ?

• A)defined contribution
• B)defined benefit
• C)qualified benefit
• D)nonqualified benefit

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Definitions:

Spanish Established

Refers to institutions, settlements, or cultural practices founded or brought to regions around the world by the Spanish during their explorations and conquests.

Declaration of Independence

A foundational document proclaimed on July 4, 1776, declaring the thirteen American colonies' independence from British rule.

French and Indian War

A conflict between Great Britain and France (1754-1763) in North America, part of a larger imperial struggle, the Seven Years' War, involving native American allies on both sides.

French Blockade

The use of naval forces by France to prevent ships from entering or leaving port, particularly during the Napoleonic Wars, as a means to weaken enemy countries economically.