A defined benefit plan is similar to a defined contribution plan in that only employers contribute to the plan.

Name: A defined benefit plan is similar to a defined contribution plan in that only employers contribute to the plan.
Brand: Quizplus
Rating: 4.8 (36 reviews)

Question

Quizplus · Accepted Answer

In a defined contribution plan, both employers and/or employees can make contributions, whereas in a defined benefit plan, only the employer is typically responsible for providing the predetermined retirement benefit to the employee.

A Defined Benefit Plan Is Similar to a Defined Contribution