In a ______,the amount received upon retirement will depend on the success of the investment of the retirement funds over the years.
A) utilization analysis
B) vesting
C) defined contribution plan
D) defined benefit plan

Question

Quizplus · Accepted Answer

In a defined contribution plan, the amount received upon retirement is determined by the amount contributed by the employee and employer, as well as the investment returns on those contributions. In contrast, a defined benefit plan guarantees a specific amount of benefits upon retirement regardless of the investment performance. Utilization analysis is not a type of retirement plan, and vesting refers to an employee's ownership of employer contributions to their retirement plan.

In a ______,The Amount Received Upon Retirement Will Depend on the Success