Which of the following is true for both Defined Benefit (DB) and Defined Contribution (DC) pension plans? The plan specifies how much employees will receive in payments during their retirement. Employees assume most of the risk of pension investments. The company must record a liability for payments they are obligated to make to retirees in the future. Pension expense is included on the income statement.

A) The plan specifies how much employees will receive in payments during their retirement.

B) Employees assume most of the risk of pension investments.

C) The company must record a liability for payments they are obligated to make to retirees in the future.

D) Pension expense is included on the income statement.