Question

Michelle Fenner is the qualified plan trustee for the defined benefit plan held by Flatt Tire Company. Flatt Tire uses life insurance as part of their qualified defined contribution plan. Currently, the cash value of the life insurance policies in the plan amounts to $50,000. Ms. Fenner can borrow against the cash value of the life insurance policies held in the plan. True False

Answer 1

false

Step-by-step explanation:

in. defined benefit plan.the company agrees in paying you a certain amount come the time you retire.and you cannot claim it before then