Which of the following is generally true about 401(k) and 403(b) retirement plans?

Answer;

Explanation;

-401k and 403b retirement plans are employer-sponsored and allow employees to deduct money from their paychecks, deposit it in a retirement account and earn interest tax-deferred. Tax-deferred means this saved income is not taxable until you withdraw it at the age of 65 or later.

-These plans enable employees to choose various investment accounts including mutual funds, stocks, bonds and money market accounts.  401k plans are offered by for-profit companies, and 403b plans are offered by non-profit companies.

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