What Is Defined Contribution Retirement Plan?

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    David RacichPRO
    Fountain Hills, Arizona
    A defined contribution plan is employer sponsored retirement plan under ERISA (The Employee Retirement Income Security Act of 1974.) Employees can contribute up to the maximum limit set by ERISA each calendar year with rep taxed dollars and their accounts accumulated tax deferred. A 401(k) is an example of a defined contribution plan.
     
    Answered on July 2, 2013
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