Section 401(k) Plans Allow Employees to Contribute a Portion of Their

question 89

True/False

Section 401(k) plans allow employees to contribute a portion of their current wages or salary to a tax-exempt retirement account. However, the contributed portion is still taxable compensation to the employee.

---

Definitions:

Newsreels

Short films that were regularly released in a serial format to provide audiences with news coverage and updates on current events before the advent of television.

Qualitative Methods

Research techniques that collect non-numeric data to understand concepts, thoughts, or experiences.

Simulations

The use of models or virtual environments to replicate or mimic real-life processes, scenarios, or environments for training, analysis, or prediction purposes.

Scenarios

Detailed, imagined situations used for strategic planning, decision making, or predicting outcomes of various action plans.