Under a Defined Contribution Plan, Employees Agree to Contribute Some

question 3

True/False

Under a defined contribution plan, employees agree to contribute some percentage of their salaries, up to 20 percent, to the firm's pension fund.

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Definitions:

Gallon

A unit of volume measurement in the US customary units and the British imperial system, usually used for liquids.

Gas

A state of matter consisting of particles that have neither a defined volume nor a defined shape, often used as a fuel for heating, cooking, and electricity generation, among other applications.

Discount

A reduction in the price of goods or services, often used as a strategy to increase sales or clear inventory.

Purchases

The total amount of goods bought by a business for resale or production during an accounting period.