Defined benefit pension plans provide a retirement benefit based on the amount contributed by both the employer and the employee.

Name: Defined benefit pension plans provide a retirement benefit based on the amount contributed by both the employer and the employee.
Brand: Quizplus
Rating: 5.0 (39 reviews)

Question

Quizplus · Accepted Answer

Defined benefit pension plans provide a retirement benefit based on a predetermined formula, often considering factors like salary and years of service, rather than the amount contributed by the employer and employee.

Defined Benefit Pension Plans Provide a Retirement Benefit Based on the Amount