Final answer:
Retirement plans not managed by an employer include Fixed Annuity, Roth IRA, and Traditional IRA, which are personal retirement accounts with tax benefits and are not tied to workplace contributions or management.
Step-by-step explanation:
The retirement plans that are not managed by an individual's employer include Fixed Annuity, Roth IRA, and Traditional IRA. Unlike a pension plan, which is a type of defined benefit plan provided by the employer, these other plans are typically self-managed investment accounts. Fixed Annuities are insurance products that provide a guaranteed income stream for retirement and are privately managed. Roth IRAs and Traditional IRAs are personal retirement savings plans that offer tax advantages and a wide range of investment choices; these are accounts that an individual opens and contributes to independently of employer involvement.
Although 401(k)s and 403(b)s are also defined contribution plans with investment options and tax benefits, these are usually tied to the workplace and involve direct contributions from both the employee and employer. Thus, these plans are portable and can follow an employee to a new employer, providing a measure of flexibility compared to traditional pension plans. However, the key distinguishing factor for Roth and Traditional IRAs, as well as Fixed Annuities, is that these are set up and managed by the individual themselves, without direct employer management or contribution.