The contribution Billy Foster's employer makes to his retirement plan depends on the profits of the company.What type of retirement plan does Billy have?

Question

Quizplus · Accepted Answer

Billy Foster's retirement plan is a profit-sharing plan, as the contributions made by his employer are directly tied to the company's profits. This type of plan allows employers to make discretionary contributions based on the company's financial performance.

The Contribution Billy Foster's Employer Makes to His Retirement Plan