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An individual participates in the 401(k) plan offered by the employer. Every two weeks, 4% of the employee's salary is deferred into the plan. The contributions are made into several different mutual funds. This practice is using

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The practice is of 401(k) plan offered by the employer is using a deferred compensation.

What is a Deferred compensation?

This plan involves an employee holding the pay for disbursement at a later time which often provides a tax deferred benefit to the employee.

Hence, the practice is of 401(k) plan offered by the employer is using a deferred compensation.

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