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A defined benefit plan is a pension plan where the employer guarantees a specified retirement benefit amount for the employee based on factors such as salary history and years of service. A defined contribution plan, on the other hand, is a plan where the employer and/or employee make regular contributions to the employee's retirement account, with the eventual payout based on the account balance at retirement. State-sponsored retirement schemes, such as the National Pension System (NPS) in India or the Social Security program in the United States, are government-run pension schemes designed to provide retirement benefits to citizens. Money market funds, on the other hand, are a type of mutual fund that invests in short-term, low-risk securities such as treasury bills, certificates of deposit, and commercial paper. While they may be a part of an investment portfolio, they are not considered a type of pension fund. Hence, statement 4 is the correct answer.
Consider the following statements with respect to the market borrowing of the government for H2FY24-
I. The central government has decided to sti...
Japan’s Mitsubishi Electric Corporation has signed an agreement with which state government to set up a Rs 1,895-crore unit, marking a rare instance o...
Which of the following statements is correct regarding the corporate agency arrangement between LIC and IDFC First Bank Ltd.?
Five-day World Sangeet Tansen Festival is started in __________.
According to the FICCI's Economic Outlook Survey (July 2022) India's economy is estimated to grow how much percentage in the current fiscal year?
Where will the national memorial to Queen Elizabeth II be located?
Which of the following statements accurately describes Phase 1 of the Lok Sabha Elections 2024?
Where was the first photographic evidence of the Mainland Serow documented?
According to the RBI advisory, banks, non-banking financial companies (NBFCs), and other financial institutions like NABARD & SIDBI will not be able to ...
Which integrated complex is set to host the FIH Hockey5s World Cup qualifiers before the Summer 2024 Olympic Games in Paris?