Question $2$ of $30.$

Edwin has worked for the same corporation for $20$ years. When he retires, he will receive an annual pension. The amount of his benefit will be based on the number of years he worked for the company, his age, and the history of his earnings with the company.

Edwin participates in which of the following types of employer$-$sponsored retirement plans?

Defined benefit plan.

Defined contribution plan.

Simplified Employee Pension $($SEP$).$

Simplified Incentive Match Plan for Employees $($SIMPLE$)$ IRA.