Question: Please explain in thorough and specific detail what the elements are of a defined benefit pension plan and a defined contribution retirement plan that companies

Please explain in thorough and specific detail what the elements are of a defined benefit pension plan and a defined contribution retirement plan that companies can offer to their employees. For each be sure to include the specific design elements that are hallmarks of each type of plan. Explain why each is beneficial to employees? To companies? What, if any, are the downsides for each type of plan to both employees and companies?

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