Four workers are at different ages and are deciding when to…

Four workers are at different ages and are deciding when to start receiving Social Security retirement benefits. Their full retirement age (FRA) is 67, and they have similar Primary Insurance Amounts (PIAs) of approximately $2,000 per month at FRA. Which of the following individuals is in the BEST position to delay claiming Social Security until age 70?  

David is a 40-year-old employee at a large corporation. He c…

David is a 40-year-old employee at a large corporation. He contributes 6% of his salary to his employer’s retirement plan, and his employer matches 3% annually. His contributions accumulate in an investment account, and he bears the investment risk. Upon retirement, his benefits will be based on the accumulated contributions and investment earnings. What type of retirement plan does David participate in?