Salvatore is employed by Wevex Corp. and he is a member of his employer's retirement pension plan.
Fantastic news! We've Found the answer you've been seeking!
Question:
Salvatore is employed by Wevex Corp. and he is a member of his employer's retirement pension plan. His employer contributes to the maximum limit allowable. The income on retirement for the plan is known in advance, it lasts for life, and it has a provision for Salvatore's wife in the event of his death. What type of plan is Salvatore a member of?
a)Defined Contribution Pension Plan (DCPP)
b)Defined Benefit Pension Plan (DBPP)
c)Pooled Registered Pension Plan (PRPP)
d)Deferred Profit Sharing Plan (DPSP)
Expert Answer:
Posted Date:
