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Employer retirement plans come in two basic types: pensions (defined contribution and defined benefit) and investment accounts (e.g. 401k and 403b). Please discuss the nature

Employer retirement plans come in two basic types: pensions (defined contribution and defined benefit) and investment accounts (e.g. 401k and 403b). Please discuss the nature of the two different types of pensions and two different types of investment accounts as options for employer-based retirement plans.

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