Allred Corporation's retirement plan will pay $250 a month for each year worked for the company commencing on the employee's 65th birthday.People must work for the company for 10 years to qualify for the pension.This plan is a

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This plan is a flat benefit defined-benefit plan because it specifies a fixed benefit amount ($250 a month for each year worked) that an employee will receive upon retirement, starting at a specific age (65), without directly linking the benefit to the employee's individual contribution amounts.

Allred Corporation's Retirement Plan Will Pay $250 a Month for Each