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