Pension Plan Classication Your employer, Zant Industries, is beginning to offer its employees a pension plan. The plan requires a certain predetermined percentage of employee salary for annual contributions, and it guarantees a benet based on years of service and company rank upon retirement

The CEO, Susan Wilkes, believes that this plan should be accounted for as a dened benet plan, since the level of employee benet is guaranteed upon retirement. The CFO, Dwight Kurt, believes that it should be accounted for as a dened contribution plan, since the amount of each employees contribution is xed and determinable.

Research the appropriate Codication and determine whether the CFO or the CEO is correct.