What Is the Difference Between a Defined Benefit and a Defined

question 61

Multiple Choice

What is the difference between a defined benefit and a defined contribution retirement plan?

• A)Defined contribution plans allow employees to contribute a set amount toward their retirement plan while employed.
• B)Defined contribution plans allow employees to determine a specific amount of money they wish to receive upon retirement.
• C)Defined benefit plans limit employee contributions while employed.
• D)Defined benefit plans allow employees to set aside money on a tax-exempt basis.

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Definitions:

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