Which of the following statements is TRUE of a defined benefit plan?
A) In a defined benefit plan, the employer makes a specified dollar contribution to an account in a managed fund.
B) In a defined benefit plan, the amount of money contributed by an employer is twice the amount of money contributed by an employee.
C) Under a defined benefit plan, the amount of retirement benefit is fixed and the employee knows the amount.
D) Under a defined benefit plan, an employer distributes company shares to the employees instead of the retirement benefits.
Correct Answer:
Verified
Q8: What is a pension?
A) compensation given to
Q9: Generally, in the case of vesting, nonforfeitable
Q10: A wage employment guarantee refers to a
Q11: The worker's compensation benefit is designed to
Q12: A(n) _ plan is a type of
Q14: The conveying of employees’ nonforfeitable rights to
Q15: The Pension Benefit Guarantee Corporation (PBGC) was
Q16: A qualified plan generally refers to a
Q17: In a contributory plan, _.
A) the employer
Q18: Employers seek to qualify their pension plans
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