The kind of pension plan which follows a formula to determine retirement benefits is classified as Options: A . &nbspdefined benefit pension plan B . &nbspdefined contribution pension plan C . &nbspdefined noncontributory pension plan D . &nbspdeferred contribution pension plan

The kind of pension plan which follows a formula to determine retirement benefit

Question

The kind of pension plan which follows a formula to determine retirement benefits is classified as

Options:

A . defined benefit pension plan

B . defined contribution pension plan

C . defined noncontributory pension plan

D . deferred contribution pension plan

Answer: Option A
Answer: (a).defined benefit pension plan

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