Which of the following statement is incorrect regarding to defined contribution and defined benefit plan? None of above. Investment risk is borne by the employer under a defined contribution plan. Employers have been moving away from defined benefit plans towards defined contribution plans. Company guarantees contribution under a defined contribution plan. Company guarantees retirement benefit under a defined benefit plan. John and Emma Wong are coming up with an investment plan for college saving. They expect that the total amount of money needed for their kids' college education is $120,000 in 14 years. Assume that they feel comfortable of a 6% investment return. If they have $35,000 saving to in their accounts today, how much do they st need to save each year in the next 14 years to achieve their goal? 5710.194862.833492.159475.661944.72