What is the difference between defined benefit plans and defined contribution plans?

What will be an ideal response?


In defined benefit plans, you are paid a certain percentage of your salary after you have retired. To qualify, you have to work for the company for a certain amount of time. Defined contribution plans are the most common retirement benefit offered today. In this type of plan, your employer contributes a percentage of each paycheck that you have specified into your account.

Business

You might also like to view...

Define the conventional stage of moral reasoning.

What will be an ideal response?

Business

Antonio and Barbara are partners who share income in the ratio of 1:2 and have capital balances of $40,000 and $70,000 at the time they decide to terminate the partnership. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $80,000. What amount of loss on realization should be allocated to Barbara?

A) $80,000 B) $10,000 C) $20,000 D) $30,000

Business

Which sentence is expressed correctly?

A) Wow. A total of 89.9 percent of the voters approved the referendum. B) Wow?a total of 89.9 percent of the voters approved the referendum. C) Wow! A total of 89.9 percent of the voters approved the referendum.

Business

As the HR director, you were given the task of providing awards to all employees with 10, 20, and 30 years of service to the organization. However, your company has 25,000 employees globally. Explain how an HRIS can assist you in completing this task.

What will be an ideal response?

Business