Question

which of the following is true about 401(k) Planned? Select all that apply

Answer 1

[AI-generated answer — Bot GPT 3.5]

1. Contributions to a 401(k) plan are typically made through payroll deductions.

2. Contributions to a 401(k) plan are often tax-deductible.
3. Employers may offer matching contributions to a 401(k) plan.
4. Withdrawals from a 401(k) plan before retirement age may incur penalties.
5. 401(k) plans are a type of retirement savings account.