In a(n)__________,the employer guarantees that the participant will receive an annual benefit for life following retirement,or the actuarial equivalent of such a benefit,based on a formula in the plan regardless of contributions made or the plan's investment performance.

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A defined benefit pension plan is a retirement plan in which the employer guarantees a specific retirement benefit amount for the employee, usually based on their salary and years of service. The benefit amount is predetermined by a formula in the plan and is not dependent on investment performance or contributions made by the employee. This is different from a defined contribution plan, such as a 401(k), where the employee contributes a certain amount and the retirement benefit is dependent on investment performance. An employee stock ownership plan is a type of defined contribution plan where employees own stock in the company they work for.

In A(n)__________,the Employer Guarantees That the Participant Will Receive an Annual