A pension plan: Multiple Choice Is a contractual agreement between an employer and its employees in which the employer provides benefits to employees after they retire. Can be underfunded if the plan assets are more than the accumulated benefit obligation. Is always funded fully by employers. Can be a defined benefit plan or an undefined benefit plan. Is a contract between the company and the government.

Is a contractual agreement between an employer and its employees in which the employer provides benefits to employees after they retire.

Explanation:

A pension plan is a contractual agreement between an employer and its employees in which the employer provides benefits to employees after they retire.

Generally, there are two main types of pension plans offered by pension funds administrators (pfa);

1. Defined-Benefit Plans: employees are guaranteed to receive a definitive amount of money upon retirement by their employer.

2. Defined-Contribution Plans: employees make certain contributions of money in line with their employer's pension plans.