Question

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

Answer 1

The statements that is generally true about 401k and 403b retirement plans are :
- They're offered by the employers to the employees
- They bring various tax benefit to you
- They restrict you about when you can withdraw your money

Hope this helps you out

Answer 2

Answer;

• They're offered by the employers to the employees
• They bring various tax benefit to you
• They restrict you about when you can withdraw your money

Step-by-step 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.