Which type of profit sharing plan places company contributions in an irrevocable trust and credits individual employees' accounts?

Question

Quizplus · Accepted Answer

A)Deferred plans involve placing company contributions in an irrevocable trust,credited to individual employees' accounts.The funds are normally invested in securities and become available to the employee (or his or her survivors)at retirement,termination,or death.Current plans provide payment to employees in cash or stock as soon as profits have been determined.

Which Type of Profit Sharing Plan Places Company Contributions in an Irrevocable