Question

Isabel’s company offers other programs and incentives to help employees with their savings and expenses. Select three programs that are commonly sponsored by employers to encourage their employees to save.

A. 529 education savings plan, dependent care FSA, health FSA
B. Individual retirement account (IRA), rainy-day fund savings account, emergency fund savings account
C. Rainy-day fund savings account, 529 education savings plan, health FSA
D. Individual retirement account (IRA), dependent care FSA, emergency fund savings account

Answer 1

Three commonly sponsored programs by employers to encourage their employees to save are Individual Retirement Account (IRA), Rainy-day Fund Savings Account, and Emergency Fund Savings Account.

Step-by-step explanation:

Three commonly sponsored programs by employers to encourage their employees to save are:

1. Individual Retirement Account (IRA): This is a retirement savings account that allows individuals to contribute a portion of their pre-tax income into the account. The contributions grow tax-free until retirement.
2. Rainy-day Fund Savings Account: This is a savings account specifically designed for emergency expenses. It helps employees save for unexpected financial needs.
3. Emergency Fund Savings Account: Similar to a rainy-day fund, an emergency fund savings account is intended to cover unexpected expenses, such as medical emergencies or car repairs.