Which Type of Retirement Plan Guarantees a Specific Amount of Income

question 53

Multiple Choice

Which type of retirement plan guarantees a specific amount of income for the person upon retirement?

• A)Defined benefit plan
• B)Defined contribution plan
• C)401(k) plan
• D)An ESOP

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Definitions:

Intellectual Disability

A situation marked by considerable deficits in both cognitive capabilities and adaptive actions, including a spectrum of daily life social and practical proficiencies.

Adaptive Abilities

The capability of individuals or species to adjust or change in response to new or altered environmental conditions.

Profound

Having deep insight or understanding; extremely meaningful or significant.

Moderate

Refers to being within reasonable limits; not excessive or extreme.