Some employers specify the benefit that employees will receive during retirement.The employer must contribute sufficient amounts to the pension plan so that those contributions plus earnings from investments made with those contributions will be sufficient to pay the specified benefit.Such plans are referred to as

Question

Quizplus · Accepted Answer

The described pension plan is a defined benefit plan, as the employer is specifying the benefit that employees will receive during retirement.

Some Employers Specify the Benefit That Employees Will Receive During