Question: Qualified Retirement Plans ( LO 9 . 8 ) In the current year, Gail's employer contributes $ 2 , 0 0 0 ( 5 percent

Qualified Retirement Plans (LO 9.8)
In the current year, Gail's employer contributes $2,000(5 percent of her $40,000 salary) to a qualified retirement plan for Gail. This pension plan is what kind of plan?
a. Defined benefit plan
b. Profit-sharing plan
c. Defined contribution plan
d. Employee Stock Ownership Plan
e. None of these choices are correct.

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