Jenny's Pension Plan Encourages Her to Contribute at Least 5

question 53

Multiple Choice

Jenny's pension plan encourages her to contribute at least 5% of her annual salary in addition to the set amount that her company contributes. She is given choices regarding how the money is invested. When she retires, the amount she has available will depend on how much she invested herself, and the rate of return on the investments she chose. This pension plan could be classified as .

• A)contributory, defined contribution
• B)qualified, defined benefit
• C)contributory, qualified
• D)contributory, defined benefit
• E)non-contributory, defined benefit

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