Stella Vickram will receive a pension of $2500 per month if she continues to work with ABC Media until she retires.She is now 45 years old.What type of plan is this?

Question

Quizplus · Accepted Answer

This is a defined-benefit plan because Stella will receive a specific amount of pension ($2500 per month) upon retirement, based on factors such as her age and years of service with ABC Media.

Stella Vickram Will Receive a Pension of $2500 Per Month