_____________ pension plans provide annuities equal to a percentage of employees' pre-retirement earnings, usually calculated based on years of service to a company.

Question

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Defined benefit pension plans provide annuities based on pre-retirement earnings and years of service. This is in contrast to defined contribution plans, which simply allocate a certain amount of money to an employee's retirement account. Annuities and graduated plans are types of payout options within a pension plan, and working class is not a type of pension plan.

_____________ Pension Plans Provide Annuities Equal to a Percentage of Employees