Which of the following is an example of a qualified pension plan where the contribution amount is defined but the benefit amount available at retirement varies?
A)Traditional defined benefit plan
B)Money purchase plan
C)Integrated plan
D)Cash balance plan
E)Unit benefit plan

Question

Quizplus · Accepted Answer

A money purchase plan is a type of defined contribution plan where the employer commits to making a specific contribution to the employee's plan each year, but the benefit available at retirement depends on the performance of the plan's investments, not a predefined benefit formula.

Which of the Following Is an Example of a Qualified