Which of the Following Describes a Defined Contribution Plan

question 56

Multiple Choice

Which of the following describes a defined contribution plan?

• A)Provides guaranteed income on retirement to plan participants.
• B)Employers and employees generally may contribute to the plan.
• C)Generally set up to defer income for executives and highly compensated employees but not other employees.
• D)Retirement account set up to provide an individual a fixed amount of income on retirement.

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Definitions:

Economic Discrimination

The unfair treatment of individuals based on their economic status, gender, age, or ethnicity influencing their opportunities and resources.

Discrimination

Discrimination refers to the unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or sex.

Wage Rate

The amount of compensation a worker receives per unit of time or per task completed.

Discrimination

Unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or gender.