Jose Works for a Toy Manufacturer That Invests an Amount

question 71

Multiple Choice

Jose works for a toy manufacturer that invests an amount equal to a certain percentage of his pay each year into a trust fund account.His firm has contributed to this optional program every year, even when they lost money.His fund usually receives the 25% maximum allowed by law.What kind of retirement program does Jose have?

• A)Defined benefit plan
• B)403(k)
• C)Money purchase pension plan
• D)Profit-sharing plan
• E)Roth Individual Retirement Account

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