Question

The kind of benefit plan in which the employee is promised to get a pension amount based on the service and age of employee is classified as

a.

contributory plan

b.

defined benefit plan

c.

defined contribution plan

d.

noncontributory plan

Answer: (b).defined benefit plan

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Q. The kind of benefit plan in which the employee is promised to get a pension amount based on the service and age of employee is classified as

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