Which of the following is a true statement about a 401k?

Question

(1 point)
Responses

Contributions are not taxed until the employee retires.
Contributions are not taxed until the employee retires.

Employers are required to match employee contributions dollar for dollar.
Employers are required to match employee contributions dollar for dollar.

Employers deposit the money directly into the employee’s bank account.
Employers deposit the money directly into the employee’s bank account.

There is a financial benefit for withdrawing the money before retirement.

Answer 1

None of the statements are true except for "Contributions are not taxed until the employee retires."