Which of the following statements about defined contribution plans is incorrect?

Group of answer choices

In general, employees can choose the investment vehicle under a defined contribution plan. Thus, highly risk-averse employees can choose low-risk investments, while more risk-tolerant employees can choose high-risk investments.

The PBGC insures a portion of pension benefits.

A defined contribution plan places the risk of poor pension portfolio performance on the employee.

In a defined contribution plan, the employer must make larger-than-average contributions to the pension plan when investment returns have been below expectations.

Defined benefit plans are used more often by large corporations than by small companies.