Question: (A) What is defined contribution pension plan and what is defined benefits pension plan? What are the major differences between these two systems? Who will

(A) What is defined contribution pension plan and what is defined benefits pension plan? What are the major differences between these two systems? Who will manage the pension plan assets and undertake ALL the financial risks under a defined contribution system? (B) What is 401(k) pension plan? What is the annual contribution limit set by the IRS for 2019? Is it a defined benefits pension plan? Please google and find out whether there are any changes to the current 401(K) system after the 2018 tax reform

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