Which type of pension plan requires a company to place a certain amount of money into a pension fund each year on behalf of the employees?

Question

Quizplus · Accepted Answer

A defined contribution plan requires a company to place a certain amount of money into a pension fund each year on behalf of the employees. In contrast, a defined benefit plan specifies a certain amount of benefits an employee will receive upon retirement, and a defined payment plan establishes a fixed payment amount. A defined employee plan is not a type of pension plan.

Which Type of Pension Plan Requires a Company to Place