The defined benefit plan is a type of plan in which the employer's contribution into the pension fund is based on a formula.

Name: The defined benefit plan is a type of plan in which the employer's contribution into the pension fund is based on a formula.
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In a defined benefit plan, the benefits that an employee will receive upon retirement are determined by a formula, not the employer's contributions. The formula typically takes into account factors like salary history and length of employment.

The Defined Benefit Plan Is a Type of Plan in Which