Which of the Following Is True About a 401(k) Plan

question 110

Multiple Choice

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

• A) There is no penalty for early withdrawal of these funds.
• B) There is no limit on the dollar amount you can contribute.
• C) Your contributions are automatically vested and are yours, regardless of when you leave the firm.
• D) 401(k) contributions are made after taxes are paid on your salary.

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Definitions:

Chlorine Atom

A chemical element with symbol Cl and atomic number 17, known for its roles in various chemical reactions and compounds.

Neutrons

Neutral particles found in the nucleus of an atom, contributing to the atom's mass but not its charge.

Protons

Positively charged subatomic particles found in the nucleus of an atom.

Amu

Atomic Mass Unit, a unit of mass used to express atomic and molecular weights, equivalent to one twelfth of the mass of a carbon-12 atom.