Multiple Choice
A defined contribution pension plan is one in which the employer agrees to do which of the following?
A) To make payments to a specified pension plan with no guarantee of a specific pension amount to be paid to the employees.
B) To make actuarially determined payments to a pension plan AND to guarantee that the employees will receive a specified pension benefit (usually determined by length of service and salary) .
C) To make actuarially determined payments to a pension plan that guarantees employees will receive a specified pension (usually determined by length of service and salary) .
D) To pay specified amounts (usually determined by length of service and salary) to the employees upon retirement.
Correct Answer:
Verified
Correct Answer:
Verified
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