Pension Funds Have Become Important Because ________

Pension funds have become important because ________.

A) income and wealth have declined steadily over the post-World War II period, leaving households less money for long-term savings.
B) people are living longer and can expect less financial needs for longer retirement periods.
C) pensions represent compensation to employees that is free of tax liability to the employee until after the workers retire and their income from employment ceases.
D) employer contributions are not tax deductible to the employer.

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