Defined contribution plans and defined benefits plans are two common types of pension plans.choose the correct statement concerning these plans: a.The required annual contribution to the plan is determined by a formula or contract in a defined contribution plan b.both plans provide the same retirement  benefits c.the retirement benefit is usually determinable well before retirement in a defined contribution plan d.In both types of plans,pension expenses is generally the amount funded during the year

Q: explain how a defined contribution pension plan works.

A:

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A:

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Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.