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QUESTION 23 A major difference between defined benefit pension plans and defined contribution pension plans is that Accounting for defined benefit plans is much simpler
QUESTION 23
A major difference between defined benefit pension plans and defined contribution pension plans is that
- Accounting for defined benefit plans is much simpler than accounting for defined contribution plans.
- In a defined contribution plan, the risk of loss is borne primarily by the employee
- Employees generally are required to contribute to defined contribution plans but not to defined benefit plans.
- There is no major difference between the two kinds of pension plans.
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