Which Type of Pension Plan Requires a Company to Place

question 30

Multiple Choice

Which type of pension plan requires a company to place a certain amount of money into a pension fund each year on behalf of the employees?

• A) Defined benefit plan
• B) Defined payment plan
• C) Defined contribution plan
• D) Defined employee plan

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Definitions:

System

A set of principles or procedures according to which something is done; in mathematics, often refers to a set of equations or inequalities.

Elimination

A method used in algebra to solve systems of equations by removing variables to find their values.

Linear Equations

Equations between two variables that produce a straight line when graphed on a Cartesian coordinate system.

Method Of Elimination

A technique for solving systems of equations by adding or subtracting the equations to eliminate one of the variables.