Your good friend George Peggy is completing a degree in English. George Peggy knows nothing about taxes or financial planning. He tells you that he got a job offer, and as part of it he can choose between a 401(k) plan and a traditional pension plan. He says the employer said each of these is a defined something-or-other plan, but that's all he knows. a) Summarize to George Peggy the two kinds of "defined retirement plans, which is the 401(k) and which type is the traditional plan? b) Summarize to George Peggy how each of the plans works. Include in your answer whether George Peggy himself probably has to put money into the plan or whether the employer pays for it. c) The employer also mention something about each of these plans vesting. Explain to George Peggy what vesting means for retirement plans