532HRMMedium
The kind of pension plan in which employer’s contribution is specified in employee’s retirement savings funds is classified as?
Adeferred contribution pension plan
Bdefined benefit pension plan
Cdefined noncontributory pension plan
Ddefined contribution pension plan
Correct answer
D. defined contribution pension plan
Explanation
defined contribution pension plan is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.