Which of the following is typically a characteristic of a defined contribution plan?

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Defined contribution plans, unlike defined benefit plans, do not guarantee a specific retirement benefit amount. Instead, the retirement benefit is based on contributions to the plan and the performance of the investments. There is no federal guarantee of benefits as there is with some defined benefit plans, such as those insured by the Pension Benefit Guaranty Corporation (PBGC).

Which of the Following Is Typically a Characteristic of a Defined