Under a 401(k) plan, the ________ is responsible for choosing specific investments.

Question

Quizplus · Accepted Answer

Under a 401(k) plan, the employee is responsible for choosing specific investments. They are usually provided with a range of investment options to choose from, including mutual funds, stocks, bonds, and target-date funds. The employer may also hire a financial institution or ERISA fiduciary advisor to provide investment advice to employees, but ultimately it is the employee's decision on how to allocate their contributions within the plan.

Under a 401(k) Plan, the ________ Is Responsible for Choosing