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.