Which term refers to a company pension plan that guarantees a certain benefit to retirees regardless of market conditions?

Question

Quizplus · Accepted Answer

A defined benefit plan guarantees a certain benefit to retirees regardless of market conditions, while a defined contribution plan does not. A money purchase plan is a type of defined contribution plan in which an employer contributes a set amount of money to an employee's retirement account each year. The Canada Pension Plan is a government-run social insurance program that provides income in retirement for eligible Canadians.

Which Term Refers to a Company Pension Plan That Guarantees