Question: What is one key difference between defined benefits plans (e.g., pensions) versus defined contribution plans (e.g., 401ks)? -Defined benefit plans rely on individual employee contributions,

What is one key difference between defined benefits plans (e.g., pensions) versus defined contribution plans (e.g., 401ks)?

-Defined benefit plans rely on individual employee contributions, while defined contribution plans do not

-Defined benefit plans offer more flexibility in retirement benefit withdrawals than defined contribution plans

-Defined benefit plans guarantee a specific cash benefit following retirement, while defined contribution plans do not

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