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Which of the following statements is true about 401(k) plans? - A 401(k) plan is a deferred compensation plan primarily for employees of state and local governments. - A 401(k) plan can be funded through pre-tax salary reductions. - A 401(k) plan must allow eligible employees to contribute up to 15% of their wages. - A 401(k) plan is designed primarily for employees of tax-exempt organizations.
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