After working for 52 years as an accountant in a government agency in the state of Virginia, Angela retires from her job. On retirement, she receives a sum of $63,000, which had been accumulated over the entire period of her service. In this case, the employee-contribution retirement plan that Angela benefits from is the _____.
A) 403(b) plan
B) 457 plan
C) HR10 plan
D) 401(k) plan

Question

Quizplus · Accepted Answer

The 457 plan is a type of non-qualified, tax-advantaged deferred-compensation retirement plan that is available for governmental and certain non-governmental employers in the United States, which aligns with Angela's employment in a government agency.

After Working for 52 Years as an Accountant in a Government