Which of the Following Statements Best Describes a 401(k)plan

Which of the following statements best describes a 401(k) plan?

A) It is an employee stock purchase plan that can provide numerous tax and other benefits for employees.
B) It is a defined contribution pension plan funded with contributions by the participants or a combination of participant and employer contributions.
C) It requires an employer to provide timely notice to its employees of a proposal to close a plant or to reduce its workforce permanently.
D) It gives the administrator discretionary authority to determine eligibility for benefits or to interpret the plan.