651HRMMedium
The kind of pension plan which follows a formula to determine retirement benefits is classified as?
Adefined benefit pension plan
Bdefined noncontributory pension plan
Cdeferred contribution pension plan
Ddefined contribution pension plan
Correct answer
A. defined benefit pension plan
Explanation
defined benefit pension plan is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.