Answered: What type of defined contribution plan…

What type of defined contribution plan allows participants to contribute after-tax amounts to their retirement account? Select one: a. Roth 401(k) b. 403(b) c. 401(k) d. 457

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

What type of defined contribution plan allows participants to contribute after-tax amounts to their retirement account?

Select one:

Roth 401(k)

403(b)

401(k)

457

Expert Solution

Step 1 What contribution plan allows participants to contribute after-tax amounts to retirement a/c?

Ans.

a. Roth 401(k)

Step by step

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