A Defined Benefits Plan

question 23

Multiple Choice

A defined benefits plan

• A)is always fully funded.
• B)may be underfunded but cannot be overfunded.
• C)may be overfunded but cannot be underfunded.
• D)may be either underfunded or overfunded.

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Definitions:

Succession Planning

The process of identifying and developing new leaders who can replace old leaders when they leave, retire or die.

Leadership Successor

An individual who has been identified or groomed to take over a leadership position in an organization, ensuring continuity in leadership.

Family Businesses

Enterprises owned and managed by members of one or more families, often inheriting leadership roles across generations.

Succession Plan

A strategy for identifying and developing future leaders in an organization, ensuring continuity in critical positions.