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General information
| Question text: | What type of pension or retirement account is this plan?
Some pension plans and retirement accounts base benefits on a formula involving age, years of service and salary, often called a defined benefit plan. Some plans base benefits on how much money has accumulated in a person's pension or retirement account, often called a defined contribution plan. Other plans use both ways of setting benefits. Is the plan from which you expect a distribution a defined benefit formula type or a defined contribution account type plan? Defined Contribution plans include 401-K, 403-B, ESOP, SRA, thrift/savings, stock/profit sharing, and money purchase plans. |
| Answer type: | Radio buttons |
| Answer options: | 1 Defined Benefit (formula) 2 Defined Contribution (account) 3 Both types 98 Don't know |
| Label: | type of pension plan or retirement account provided |
| Empty allowed: | One-time warning |
| Error allowed: | Not allowed |
| Multiple instances: | No |