a. Which of the following is not a characteristic of a defined-contribution pension plan? The employer's contribution each period is based on a set formula. b. The benefits to be received by employees are usually determined by an employee's three highest years of salary defined by the terms of the plan. The accounting for a defined-contribution plan is straightforward and uncomplicated. d. The benefit of gain or the risk of loss from the assets contributed to the pension fund are borne by the employee. c. a. The relationship between the amount funded and the amount reported for pension expense is as follows: pension expense must equal the amount funded. b. pension expense will be less than the amount funded. pension expense will be more than the amount funded. d. pension expense may be greater than, equal to, or less than the amount funded. c. When a company adopts a pension plan, prior service costs should be charged to a. prior period adjustments. b. operations of current period. c. other comprehensive income (PSC). d. retained earnings