Discussion
What plan is popularly known for long-term retirement savings with the advantages ?
Answer: B
The plan is the 401(k).
A 401(k) is the United States employer-sponsored retirement savings plan named after section 401(k) of the Internal Revenue Code. Employees contribute part of their salary before tax, employers often add matching contributions, and the savings grow tax-deferred until withdrawal in retirement.
401(a) is a related but less widely known plan, mostly for government and non-profit employers, so the popular name is 401(k). The other two letters do not correspond to well-known retirement plans.
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