Which of the following make traditional 401K plans better than pensions?

1) Payments during retirement are taxed.

2) Investment decisions are managed by the individual.

3) The investment balance can be willed to a beneficiary.

4) The worker can retain funds even when switching employers.

1, 2 & 3

All of the above

3 & 4 only

1 & 2 only

2, 3, & 4