QUESTION 7 Who is financially liable for investment losses in a Defined Benefit plan? Pension fund manager Employee Employer All the above QUESTION 8 Who directly pays tax on defined benefit distribution payments? Employee Employer Pension fund manager There is no tax on defined benefit payments QUESTION 9 At what point are investment earnings in defined benefit plans taxed? When paid by the underlying investment (.e. bond interest) When distributed by the defined benefit plan When investments are sold Defined benefit plan investment earnings are not taxed