Pleasant Company has established a pension plan for its employees that operates as follows: Each year, Pleasant Company places a fixed dollar amount in a pension fund for each employee. The funds are then invested. Upon retirement, each employee is entitled to the cash value of the funds that have been invested in his/her name. This arrangement is an example of which of the following?
A) Defined benefit program.
B) Defined contribution program.
C) Contingent program.
D) Deferred timing program.
Correct Answer:
Verified
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