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In this chapter, we have been discussing pension plans (and a little bit about post-retirement plans), mainly how to account for defined benefit plans. After having learned at least some of the complexities of accounting for a defined benefit plan, express your opinion about whether these plans are worth it. Come at this from the perspective of the employer, the employee/retiree, and the government and write what you think -- are they worth it

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It should be noted that defined benefit plans are worth it as they provide a secure lifetime retirement income for the employee.

Defined benefit plans are also known as the traditional pension plan. It gives a specified payment amount in retirement. It's important as it allows employees and employers to be able to invest funds in order to save for retirement.

Defined benefit plans are beneficial as they give eligible employees a guaranteed income for life when they retire. This is important as the person can have a source of income when they're not working anymore.

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