Sarita is executive director of a nonprofit that teaches financial literacy to urban youth. To "walk the talk," she feels it's important to support her employees' plans for retirement
What type of plan should Sarita establish for the organization's employees?
A) Keough plan
B) Roth IRA
C) 403(k) plan
D) SIMPLE plan
E) 401(k) plan
Answer: C
Explanation: C) A 403(k) plan allows employees to contribute pretax income into a plan that grows in wealth tax-free until withdrawals are made. A 403(k) plan is similar to a 401(k) plan but is for nonprofit employers.
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Employers obtain insurance coverage for workers' compensation claims from:
A. the federal government. B. the state Workers' Compensation Board. C. private insurance companies or by self-insuring. D. insurers designated by the federal government.