In a Defined-Benefit Retirement Plan, the Employer Promises to

In a defined-benefit retirement plan, the employer promises to

A) pay employees a set retirement benefit when they retire based on how much the employee has contributed.
B) pay employees a retirement benefit determined by a formula that is typically based on preretirement income and number of years worked.
C) pay a certain amount of money into their retirement account each year based on a percentage of their salary.
D) allow employees to contribute money to their retirement account out of their current earnings on a tax-deferred basis.