Defined contribution plans are generally more favorable to older employees.

Name: Defined contribution plans are generally more favorable to older employees.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Defined contribution plans are more favorable to younger employees because they provide them with more time to save and accumulate a larger retirement nest egg. Older employees may not have as much time to save and may benefit more from traditional pension plans that provide a guaranteed income for life.

Defined Contribution Plans Are Generally More Favorable to Older Employees