Multiple Choice
What is the difference between a defined benefit and a defined contribution retirement plan?
A) Defined contribution plans allow employees to contribute a set amount toward their retirement plan while employed.
B) Defined contribution plans allow employees to determine a specific amount of money they wish to receive upon retirement.
C) Defined benefit plans limit employee contributions while employed.
D) Defined benefit plans allow employees to set aside money on a tax-exempt basis.
Correct Answer:
Verified
Correct Answer:
Verified
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