Bob Jindal works for RAY Vision Inc. The employer deducts money every month from his paycheque for his pension plan. RAY Vision matches this amount for his pension. What type of plan is this?

Name: Bob Jindal works for RAY Vision Inc. The employer deducts money every month from his paycheque for his pension plan. RAY Vision matches this amount for his pension. What type of plan is this?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A contributory plan is a pension plan in which both the employer and the employee contribute to the plan.

Bob Jindal Works for RAY Vision Inc