Retirement Benefit Plan MCQ (Multiple Choice Questions) PDF Download

The pension plan in which the benefits of pension is paid in by both parties involved, such as employers and employees is classified as

1. non-discretionary plan
2. discretionary plan
3. contributory plan
4. non-contributory plan

The type of pension plan in which all the benefits of pension are provided by the employer of organization is classified as

1. contributory plan
2. non-contributory plan
3. non-discretionary plan
4. discretionary plan

In pension plans for employees, the special account through which the funds are remained nontaxable until the employee retires is classified as

1. Keogh retirement account
2. vesting account
3. portability account
4. individual retirement account

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

1. contributory plan
2. defined benefit plan
3. defined contribution plan
4. noncontributory plan

The kind of benefit plan in which the annual payment of pension is made to employee's pension account is classified as

1. defined contribution plan
2. noncontributory plan
3. contributory plan
4. defined benefit plan