In a ________ retirement plan,the employer guarantees the employee a specific payment regardless of the total contributions made to the plan or the plan's investment performance.

Question

Quizplus · Accepted Answer

In a defined benefit retirement plan, the employer specifies a particular benefit amount that will be paid to the employee upon retirement, based on a formula that takes into account factors such as the employee's salary and years of service. The employer is responsible for funding the plan and assumes the investment risk, so the employee is guaranteed a specific payment regardless of how the plan's investments perform.

In a ________ Retirement Plan,the Employer Guarantees the Employee a Specific