Question: A __________ is a private plan that is created when an individual transfers vested money from an employer-sponsored pension plan. The purpose of this type

A __________ is a private plan that is created when an individual transfers vested money from an employer-sponsored pension plan. The purpose of this type of account is to provide an opportunity for employees who leave a company pension plan to take the value of their pension plan assets with them.

Points: 1

Locked-In Retirement Account (LIRA)

Registered Retirement Savings Plan (RRSP)
Tax-Free Savings Account (TFSA)
Inter-Vivos trust account
Registered Retirement Income Fund (RRIF)

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