9) We discussed the difference between, and prevalence of, defined-benefit and defined- contribution plans-both Employer-Sponsored Retirements Plans. All but which of the following statements is true?

1. Sponsors are moving more toward offering only defined-contribution plans.
2. Today there are significantly more defined-benefit plans.
3. Employees can save part of their compensation in a pre-tax basis.
4. Employer-sponsored plans are a valuable part of retirement planning.