Which of the following statements typifies defined contribution plans?

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Defined contribution plans are funded by periodic contributions made by the employer on behalf of the employee. The employer's obligation is satisfied by making these contributions, and there is no promise of a specific benefit amount at retirement. Investment risk is borne by the employee, not the corporation. Defined contribution plans can be less complex than defined benefit plans, which require actuarial calculations to determine benefit amounts. Present value factors may be used in calculating contributions, but this is not necessarily a defining feature of defined contribution plans.

Which of the Following Statements Typifies Defined Contribution Plans