An organization that received contributions from employees and/or their employers and invests the proceeds on behalf of the employees for use during their retirement years is called a(n)

Question

Quizplus · Accepted Answer

A pension fund is specifically designed to receive contributions from employees and/or employers for the purpose of investing those proceeds on behalf of employees for use during their retirement years. Mutual funds and savings banks are not specifically designed for retirement savings, and while retirement funds may exist, they are not as common or well-established as pension funds.

An Organization That Received Contributions from Employees And/or Their Employers