Solved

A Primary Benefit of 401(k)plans Is That Payments Made by Employees

Question 34

True/False

A primary benefit of 401(k)plans is that payments made by employees into the plan are pretax so the employee pays no tax on those dollars until after he or she retires or removes the money from the 401 (k)plan.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q29: According to the Bureau of Labor Statistics,

Q30: The average number of vacation days granted

Q31: Social Security provides all of the following

Q32: Which of the regulations below prohibits an

Q33: Firms should offer health benefits to retired

Q35: Flexible work schedules tend to have negative

Q37: The primary difference between health maintenance organizations

Q38: A defined contribution pension plan encourages employees

Q39: Social Security tax is charged at a

Q92: There is no limit to the amount