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21-12-2022
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a defined contribution plan specifies the amount that either the employer or employee must make. group of answer choices true false

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24-12-2022

An employee's individual account under a defined contribution plan is funded by contributions from both the employee and/or the company.

For defined contribution plans, which of the following is accurate?

Explanation and Response: The employee will assume the investment risks of the plan, making option (b) the best option. Unlike a defined benefit plan, a defined contribution pension plan does not have pre-determined benefits that an employee will receive.

What is covered by the on defined contribution plans?

The participant's individual account balance at any one time under a defined contribution plan is what matters. In a defined benefit plan, it refers to the portion of the standard retirement benefit that is established in accordance with the plan's guidelines.

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