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Sebastian was hired by his current employer twenty years ago. Sebastian likes the fact that the company provides good benefits, including a pension plan. When
Sebastian was hired by his current employer twenty years ago. Sebastian likes the fact that the company provides good benefits, including a pension plan. When he retires the pension plan will pay him $42,000 per year for the rest of his life, and when he dies his spouse will continue to get part of that income for the rest of her life. Given this scenario what type of pension plan does Sebastian belong to? Select one: a. Defined Benefit Pension Plan b. Defined Contribution Pension Plan C. Deferred Profit Sharing Plan d. Group Registered Retirement Savings Plan
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