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The difference between a defined contribution and a defined benefit plan is:

Question $1$Answer

a$.$

Only employers contribute to defined benefit plans while both employees and employers contribute in defined contribution plans.

b$.$

A defined contribution plan pays a guaranteed amount of annual pension regardless of what the invested contributions are worthwhile for a defined benefit, the payout is determined solely by the value of the invested contributions.

c$.$

In defined benefit plans, the payout is guaranteed regardless of the value of invested contributions, while in defined contribution plans, the payout is determined solely by the value of the invested contributions

d$.$

None of the above