In a Contributory Defined Contribution Pension Plan,all of the Following

question 94

Multiple Choice

In a contributory defined contribution pension plan,all of the following are true with the exception of

• A)a separate account is established for each participant.
• B)both the employee and employer can make contributions to the plan.
• C)amounts are contributed to the plan based upon a specific formula.
• D)retirement benefits are a fixed amount based on the level of compensation earned by the employee during the working years.

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Definitions:

Conversions

The act or process of changing something into a different state or form, often used in contexts like religion, measurement, and digital media.

Know-Nothing Party

A nativist political party in the United States during the 1850s that opposed immigration and favored policies that would "purify" American politics.

Republican Party

A major political party in the United States that is associated with conservative and right-leaning policies.

Democratic Party

One of the two major political parties in the United States, traditionally associated with progressive and liberal policies.