Contributory and noncontributory pension plans
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Explain the difference between contributory and noncontributory pension plans. Differentiate between defined benefit and defined contribution pension plans.
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Solution Summary
This posting differentiates between contributory and noncontributory pension plans and between defined benefit and defined contribution pension plans.
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"Noncontributory plans" are funded with employer contributions only. "Contributory plans" receive both employer and employee contributions. "Fully contributory plans" ...
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