What is the name of the pension plan under which employees can make tax-deductible contributions through regular payroll deductions?

Question

Quizplus · Accepted Answer

401(k) plans are the pension plans under which employees can make tax-deductible contributions through regular payroll deductions. Social Security plans are a government-sponsored retirement benefit and not a pension plan that employees can contribute to through payroll deductions. Early retirement plans and 486(b) plans are not recognized terms in relation to pension plans.

What Is the Name of the Pension Plan Under Which