Which type of voluntary benefit program utilizes a typical pension plan in which the employer adds an established benefit to the plan when the employee retires?
Correct Answer: D
Explanation: This question describes the defined benefit program, which starts with a basic pension plan. To this pension plan are added established benefits, thus explaining the name of the plan. Answer choice A is incorrect because the benefit accrual plan is not a type of voluntary benefits plan. Answer choice B is incorrect. Like the defined benefit plan, the defined contribution plan utilizes a standard pension plan but without the added benefits defined in advance. Answer choice C is incorrect because the nonqualified plan provides benefits to specified employees (for example, executives) and shareholders. And answer choice E is incorrect because a qualified plan is a 401(k) plan that receives special tax credits from the IRS.