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Each of the following statements is true of both defined benefit plans and defined contribution plans EXCEPT:
both of the plans are typically structured as single-employer plans and maintained for employees.
both can be classified as overfunded or underfunded depending on the value of plan assets.
the treasurer is normally responsible for overseeing the performance of the plan fund managers.
the Pension Protection Act of 2006 includes significant changes to the rules governing both types of plans.
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