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What is the difference between a defined benefit plan and a defined obligation plan?

Trust Accounting Fund Accounting
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Question added by Abdullah Mahhaden, CFA, CPA , Assurance Manager , Grant Thornton
Date Posted: 2013/06/17
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sobhi alshaltoni
by sobhi alshaltoni , Partner , Almanarah Accounting and Financial Consulting

A defined benefit plan identifies the specific benefit that will be payable to you at retirement, but a defined obligation plan specifies how much money will go into a retirement plan today.

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