John Carpenter works as a manager of a retail store.His employer has been setting money aside for him each month in the amount of 7 percent of his monthly earnings.What type of retirement plan does John have?

Question

Quizplus · Accepted Answer

A money-purchase pension plan involves the employer contributing a fixed percentage of an employee's salary to the employee's retirement account, which matches the description given.

John Carpenter Works as a Manager of a Retail Store