Final answer:
The defined benefit plan is a type of plan in which the employer's contribution into the pension fund is based on a formula. This statement is true.
Step-by-step explanation:
The statement 'The defined benefit plan is a type of plan in which the employer's contribution into the pension fund is based on a formula.' is true.
Defined benefit plans are retirement plans in which the employer provides a predetermined payout to employees based on a formula that usually considers factors like salary and years of service. The employer's contribution to the pension fund is determined by the formula, which can vary between companies.