Question

Which is an employer-sponsored retirement plan?

a. A strategy offered by the company that will advise employees on how to invest in order to retire

b. A social security coverage that is offered only to employed citizens

c. A type of account offered to employees at very little or no cost

d. A private bank plan that is recommended by the company

Answer 1

c. A type of account offered to employees at very little or no cost

This option best describes an employer-sponsored retirement plan, such as a 401(k) or similar program, where the employer provides a savings mechanism for employees to save for retirement, often with matching contributions or other benefits.