A 401(k)plan is a defined benefit plan in which employees may defer income up to a maximum amount allowed.

Name: A 401(k)plan is a defined benefit plan in which employees may defer income up to a maximum amount allowed.
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A 401(k)plan is a defined contribution plan in which employees may defer income up to a maximum amount allowed.A defined benefit plan is a formal retirement plan that provides the participant with a fixed benefit upon retirement.

A 401(k)plan Is a Defined Benefit Plan in Which Employees