Jenny Must Contribute at Least 5% of Her Annual Salary

Multiple Choice

Jenny must contribute at least 5% of her annual salary to her pension plan, and her employer contributes a set amount as well. She is given choices regarding how the money is invested. When she retires, the amount she has available will depend on how much she invested herself, and the rate of return on the investments she chose. This pension plan is most likely classified as ________.

A) qualified, defined benefit
B) non-contributory, defined benefit
C) contributory, defined contribution
D) contributory, non-qualified