alleryStart learning →Which is an example of a US defined contribution plan?
AA final salary plan
BA social insurance
CA 401(k) retirement plan
DA basic state pension
Answer & Solution
Correct answer: C. A 401(k) retirement plan
A 401(k) holds an individual account for each participant, which is the defining feature of a defined contribution plan.
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Related questions
Employee benefits mainly aim to increase what for staff?Which US plans let employees choose from a menu of benefits?Employees tend to see mandated benefits as creating what?Which body coined the term fringe benefits during World War II?What is exchanging cash wages for another benefit called?In which year was India's fringe benefits tax abolished?The IASB defines employee benefits as consideration for what?Who prepared the 1943 report that shaped India's health insurance scheme?