Tran Is Employed at a Company That Annually Contributes Anywhere

question 22

Multiple Choice

Tran is employed at a company that annually contributes anywhere from 2% up to 12% of his salary into his retirement plan,depending on how good the company's financials were that year.This type of contribution plan is a(n) ________ plan.

• A)401(k)
• B)ESOP
• C)profit-sharing
• D)performance

---

Definitions:

Enabling Statutes

Laws that provide the legal framework and authority for government agencies or bodies to implement regulations and actions.

Administrative Statutes

Laws established by government agencies that detail how the agencies are to administer and enforce the laws passed by the legislature.

Federal Administration Statutes

refers to laws enacted by the federal government that govern the organization, functions, and actions of federal agencies and administrative bodies.

Federal Administrative Law Judges

Officials who preside over hearings and make decisions on disputes within federal agencies, operating under administrative law.