Malcolm Is Interviewing for a New Job and He Is

Malcolm is interviewing for a new job and he is evaluating the quality of the pension plans offered for each company he is considering.One company offers a pension plan in which the company will make all contributions to the plan and will base his pension benefit on a formula linked to his pay at the time of retirement and the number of years he works for the firm.This pension plan could be classified as a ________.

A) non-contributory, defined contribution
B) contributory, defined benefit
C) non-contributory, defined benefit
D) contributory, qualified plan

Correct Answer:

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