You are a member of the management team at a start-up company that will manufacture electric vehicles. At one of the initial meetings of the management group, the CEO stated:
“I understand how important it is to be competitive on the wage and benefit front. We need to be to attract the best talent. However, the years I have spent in the automotive industry have taught me that most manufacturers are in the business of making great cars—that’s our core competency. It’s not managing pension investments to provide retirement income for our employees.”

Required
Explain the type of pension plan that your CEO would most likely favour the company adopting for its employees.