Final answer:
VEBA is not a defined contribution plan; it is a type of trust used to provide employee benefits and is not structured like typical retirement plans such as 401(k)s and 403(b)s. The correct option is C.
Step-by-step explanation:
The question asks which of the following is not a defined contribution plan subject to ERISA - Employee Stock Ownership Plan (ESOP), Profit Sharing Plan, Voluntary Employees' Beneficiary Association (VEBA), or Thrift Plan. Among these, VEBA is not a defined contribution plan.
Defined contribution plans include options such as 401(k)s, 403(b)s, ESOPs, Profit Sharing Plans, and Thrift Plans, where employers contribute a fixed amount to the worker's retirement account, which is then invested. These contributions are typically made on a regular basis, and the plans are portable and tax-deferred.
VEBAs, on the other hand, are a type of tax-free trust used to provide employee benefits that are not specifically designed as retirement plans.