Who is responsible for investment risk in defined benefit plans?

a) Pension fund manager

b) Employee

c) Employer

d) All the above

Who directly pays the tax on defined benefit payments?

a) Employee

b) Employer

c) Pension fund manager

d) There is no tax on defined benefit payments

At what point are earnings in defined benefit plans taxed?

a) When earned

b) Never

c) When contributions are made

d) When distributed