ABC Company offers a qualified retirement plan. ABC selected a funding

ABC Company offers a qualified retirement plan. ABC selected a funding instrument with an insurer in which the insurer promised to pay a specified interest rate for a number of years on a lump sum deposit. This funding instrument is called a

A) trust-fund plan.
B) group deferred annuity.
C) separate investment account.
D) guaranteed investment contract.

ANSWER

Answer: D