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When offering pension plans, many companies now opt for a defined contribution plan rather than defined benefit plans. Most defined contribution plans take the form
When offering pension plans, many companies now opt for a defined contribution plan rather than defined benefit plans. Most defined contribution plans take the form of a 401(k) or 403(b) program. Defined contribution plans __________ promise a set amount to workers when they retire based on final salary and number of years of service. promise a set amount to workers when they retire based on average salary and number of years of service. say how much workers have to pay into the plan, and guarantee a set return. say how much workers have to pay into the plan, but do not guarantee a set return
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