A retirement plan that allows employees to gain shares of ownership in their firm is called a(n)_____________.
A) IRA
B) ESOP
C) SIMPLE
D) 401(k)

Question

Quizplus · Accepted Answer

ESOP (Employee Stock Ownership Plan) is a retirement plan that allows employees to gain shares of ownership in their firm. This can be a valuable benefit for employees as it allows them to directly benefit from the success and growth of the company. IRAs, SIMPLE, and 401(k) plans do not involve ownership in the company and operate differently in terms of contributions and withdrawals.

A Retirement Plan That Allows Employees to Gain Shares of Ownership