Which of the Following Describes a Defined Contribution Plan

question 28

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.Employers and employees generally contribute to the plan.

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Definitions:

Secure Employment

A situation in which an individual has a stable job and income.

Specific Skills

Abilities or expertise in particular tasks or areas, often requiring specialized knowledge or training.

CARDIA Study

The CARDIA Study refers to the Coronary Artery Risk Development in Young Adults, a longitudinal study researching cardiovascular disease development over a person's lifespan.

Middle Age

Middle age is the period of adult life that typically spans from around the age of 40 to about 65, characterized by increased focus on life evaluation, achievements, and legacy.