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Fred Cruze joined his employer's defined contribution pension plan when it was first established fifteen...

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Accounting

Fred Cruze joined his employer's defined contribution pension plan when it was first established fifteen years ago. Fred is now just eight years from retirement, at age 60, and he is working with his financial planner to assess his retirement savings. For Fred's participation in the company pension plan, which of the following statements is false?
The investment performance of the assets held in Fred's pension plan will directly affect the amount of Fred's pension
Fred's pension provides a specific benefit amount at retirement, regardless of investment performance
Fred must take responsibility for investment decisions related to managing his pension plan assets
While Fred has participated in the company pension plan for fifteen years, there is no guarantee as to his amount of pension income when he retires
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