A Type of Pension Plan That Contains a Formula for Determining

question 43

Multiple Choice

A type of pension plan that contains a formula for determining retirement benefits so that the actual benefits to be received are defined ahead of time is called a

• A)money purchase pension plan.
• B)defined contribution pension plan.
• C)defined benefit pension plan.
• D)deferred profit-sharing plan.
• E)retirement plan.

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Definitions:

United States Congress

The bicameral legislative body of the federal government of the United States consisting of two chambers: the Senate and the House of Representatives.

United States Congress

The national federal legislative body of the United States consisting of two chambers: the Senate and the House of Representatives.

Federal Agency

A government body established by Congress to implement and administer particular federal laws and programs.

Power

The ability or capacity to do something or act in a specific way, often referring to the capability to influence or direct behaviors of individuals or groups.