Defined-contribution plan and defined benefit are the 2 pension plans we cover!

3 diff ways are

Vested Benefit

Accumulated Benefit

Projected Benefit

We have covered two (2) types of pension plans. a. Define and explain each one. b. What is the major difference between them? c. Who bears the risk in each one? a. We have covered three different ways of measuring the pension liability of a company. Define and explain each one. What is the fundamental difference between them? Which method would conform to the AICPA guidelines