_____ plans do not promise a specific benefit level for employees upon retirement.Rather,an individual account is set up for each employee with a guaranteed size of contribution.

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Defined contribution plans, such as 401(k) plans, do not promise a specific benefit level upon retirement but rather specify a guaranteed contribution amount to an individual account for each employee. The ultimate retirement benefit is determined by the account balance at retirement.

_____ Plans Do Not Promise a Specific Benefit Level for Employees