A(n)_____ is a form of retirement savings plan in which the employee contributes money each pay period to his or her retirement account and the employer matches a portion of the contribution.

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A defined contribution plan is a type of retirement savings plan where employees contribute a portion of their paycheck to an account intended for their retirement. Employers can match these contributions to some extent, which helps employees grow their retirement savings over time. This contrasts with a defined benefit plan, where retirement benefits are determined by salary history and years of service. Open enrollment plans and cafeteria plans refer to different contexts, primarily health insurance and flexible benefit plans, respectively, and are not directly related to retirement savings in the manner described.

A(n)_____ Is a Form of Retirement Savings Plan in Which