Identify whether each of the following descriptions of pension plans describes defined contribution plans, defined benefit plans,
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Identify whether each of the following descriptions of pension plans describes defined contribution plans, defined benefit plans, or both.
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a. Must use a pension trust to hold the plan's assets. b. Transfers risk from retirees to plan sponsors. c. Allows employees to contribute to a pension plan. Can be underfunded or overfunded. d. c. f. Provides a guaranteed amount of retirement income. Provides a guaranteed amount of plan funding. Defined contribution plans Defined benefit plans
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a Must use a pension trust to hold the plans assets This description applies to both defined contrib...View the full answer
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