Which Retirement Plan Specifies the Benefits You'll Receive at Retirement

question 112

Multiple Choice

Which retirement plan specifies the benefits you'll receive at retirement age based on your total earning and years on the job?

• A) Defined-benefit plan.
• B) Money-purchase plan.
• C) Defined-contribution plan.
• D) Profit-sharing plan.
• E) 401(k) plan.

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Definitions:

Independent

Not influenced by or connected to others; self-sufficient or autonomous in relation to external conditions or influences.

Dependent

Reliant on something else for support, sustenance, or supply.

Explanation

The act of making something clear or understandable by providing information or reasons.

Argument

A set of statements structured to support a conclusion through reasoning.