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A company instituted an IRS-approved plan to fund a percentage of each employees salary to a plan that would pay benefits to the employee after

A company instituted an IRS-approved plan to fund a percentage of each employees salary to a plan that would pay benefits to the employee after termination of services. This plan is a:

Defined benefit pension plan.

Defined contribution pension plan.

Government sponsored pension plan.

Postretirement benefit plan.

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