Multiple Choice
Which of the below statements is FALSE?
A) 401(k) plans are plans provided by an employer whereby an employee may elect to contribute pretax dollars to a qualified tax-deferred retirement plan.
B) While a 401(k) is an employer-sponsored retirement program, the most common types of IRAs are personal tax-deferred retirement plans set up at the initiative of the employee/investor.
C) Traditional and Roth IRAs are vehicles for individuals to set up their own retirement plans outside their employment.
D) Rollover IRAs may be used when an individual is staying with an employer and wants to continue this retirement plan.
Correct Answer:
Verified
Correct Answer:
Verified
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