LO 4-5 Which of the following describes the primary difference between a 401(k)

and a 403

(b) retirement plan?

a. The 401(k) is a defined benefit-only plan.

b. The 403

(b) is a defined contribution-only plan.

c. The 401(k) is restricted to investments in stocks only.

d. The 403

(b) is restricted to use by nonprofit companies.