Under a defined contribution plan, employees agree to contribute some percentage of their salaries, up to 20 percent, to the firm's pension fund.

Name: Under a defined contribution plan, employees agree to contribute some percentage of their salaries, up to 20 percent, to the firm's pension fund.
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Question

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Under a defined contribution plan, employees contribute a portion of their salary to their own individual retirement accounts, not to a firm's pension fund.

Under a Defined Contribution Plan, Employees Agree to Contribute Some