Each question may be answered in four to five sentences.Define the purpose and function of a benefit plan.Define the purpose and function of a contribution plan.What does the term vesting mean? Why is vesting important?Compare and contrast the cash balance plan and the contribution plan.Explain the purpose and function of simplified employee pensions.If you had your choice, which type of pension plan would you select for yourself? Please provide your reasons.Your assignment should be 2-3 pages in length.Reference all sources using APA format.
