Under a 401(k) plan, the ________ is responsible for choosing specific investments.

A) employee
B) PBGC
C) ERISA fiduciary advisor
D) financial institution handling the account
E) employer

401(k) Plan

A type of retirement savings plan sponsored by an employer that allows employees to save and invest a portion of their paycheck before taxes are taken out.

PBGC

The Pension Benefit Guaranty Corporation (PBGC) is a U.S. government agency that protects the retirement incomes of American workers in private-sector defined benefit pension plans.

ERISA Fiduciary Advisor

A financial advisor who is required by the Employee Retirement Income Security Act to act in the best interest of participants in retirement plans.