Which of the Following Is False About a 401(k)plan

question 43

Multiple Choice

Which of the following is false about a 401(k) plan?

• A)Withdrawals before age 59-1/2 result in a 10 percent tax penalty
• B)Less than 50% of all employers offering these plans match a portion of employee's contributions
• C)Your contributions are limited to a set dollar amount each year
• D)The money you contribute is deducted from your paycheck before taxes are assessed

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Definitions:

Subgroup's Identity

The collective sense of identity shared by members of a subgroup within a larger group, often based on common characteristics or interests.

Collective Efficacy

The shared belief in a group's capacity to organize and execute actions necessary to achieve set goals.

Task Objectives

The specific goals or intended outcomes that are to be achieved through completing a task or project.

Successfully

Achieving objectives or reaching desired outcomes through effective planning, execution, and management of resources.