Jessica works in the human resources department of Artmetrics^,a medium-sized software development firm with 500 employees. Artmetrics is considering implementing a group savings plan and has given Jessica the responsibility of evaluating the different types of plans for presentation to the board. Jessica tells the insurance agent, Klaus, that the company wants a plan where both the employer and employees are required to contribute to the plan. Artmetrics also wants a plan that does not place the responsibility for investment decisions within the plan on the employees. Which of the following types of plans would BEST meet Artmetrics' objectives?
a)Defined Contribution Pension Plan (DCPP)
b)Defined Benefit Pension Plan (DBPP)
c)Pooled Registered Pension Plan (PRPP)
d)Deferred Profit Sharing Plan (DPSP)

Answer rating: 100% (QA)

Correct aNSWER Defined Benefit Pension Plan DBPP Explanation A def... View the full answer