Scenario: Included as an employee benefit of your partners new job position is the option to participate in the companys retirement plan. After meeting with the HR department, your partner is overwhelmed with the various choices and doesnt know what to do. What suggestions would you give your partner about their new retirement plan options?

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An explanation of the differences between defined-benefit and defined-contribution retirement plans

A description of the basic characteristics and features of 401(k) plans.