Defined Benefit Plans Specify the Amount of Benefit an Employee

question 33

True/False

Defined benefit plans specify the amount of benefit an employee will receive on retirement while defined contribution plans specify the amounts that employers and employees will (or can) contribute to an employee's plan.

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Definitions:

Gifford Pinchot

Known as the father of American conservation, he was an advocate for the sustainable management of natural resources in the United States.

Conservationists

individuals or groups that actively work to protect and preserve the natural environment and wildlife.

Earth Day

An annual event celebrated on April 22 worldwide to demonstrate support for environmental protection.

US Forest Service

A federal agency that manages public lands in national forests and grasslands with the goal of sustaining the health, diversity, and productivity of the nation’s forests and grasslands for present and future generations.