Asked by Albatool Ahmed on Jul 05, 2024

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A defined-contribution plan guarantees a specified or fixed level of retirement income.

Defined-Contribution Plan

Retirement plan in which the employer sets up an individual account for each employee and specifies the size of the investment into that account.

Retirement Income

The financial income one receives after retiring from active employment, which can come from pensions, savings, investments, and government programs.

  • Understand the financing approaches for retirement benefits according to the Financial Accounting Standards Board.
  • Discover the standards and benefits related to workers' compensation legislation and the Employee Retirement Income Security Act (ERISA).
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KR
Kayla RamdatJul 11, 2024
Final Answer :
False
Explanation :
A defined-contribution plan does not guarantee a specific level of retirement income as it is dependent on the amount contributed and investment performance.