Retirement Plans That Guarantee a Set Amount of Money Each

question 19

Multiple Choice

Retirement plans that guarantee a set amount of money each month are known as:

• A) 401(k) plans.
• B) self-directed plans.
• C) defined-benefit plans.
• D) defined-contribution plans.

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Definitions:

Competition

The rivalry among businesses or individuals for resources, customers, market share, or achievement, which can drive innovation and efficiency.

Disadvantaged

Individuals or groups that experience a lack of resources, opportunities, or privileges, putting them at a social, economic, or educational disadvantage.

Advantaged

Having favorable conditions or circumstances that provide a superior position or greater opportunities compared to others.

Society

A group of individuals involving persistent social interactions, or a large social grouping sharing the same geographical or social territory.