Which of the following are characteristics of the flat benefit formula used in defined benefits plans? (Defined Benefit Plans)
A) An employee's years of service are considered,is determined using a flat amount formula or a flat percentage formula,the benefit is based on a percentage of the employees final average wage or salary
B) Is determined using a flat amount formula or a flat percentage formula an employee's years of service are considered,the benefit is based on a percentage of the employees final average wage or salary,is based on the employee's last 3-4 years of service
C) Is based on the employee's last 3-4 years of service an employee's years of service are considered,The benefit is based on a percentage of the employees final average wage or salary,an employee's years of service are considered
D) The benefits are based on a percentage of the employees final average wage or salary,are based on the employee's last 3-4 years of service and are determined using a flat amount formula or a flat percentage formula
Correct Answer:
Verified
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