In a _____ Plan, an Employer Agrees to Provide a Specific

question 21

Multiple Choice

In a _____ plan, an employer agrees to provide a specific level of retirement pension, which is expressed as either a fixed dollar or a percentage-of-earnings amount that may vary (increase) with years of seniority in the company.

• A)defined benefit
• B)noncontributory benefit
• C)401(k)
• D)shared benefit

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Definitions:

Security Deposit

A sum of money held by a landlord or lender as a safeguard against damage or non-payment, to be returned or applied appropriately after certain conditions are met.

Navigable Airspace

The space above 1,000 feet over populated areas and above 500 feet over water and unpopulated areas.

Ultralight Airplane

A type of light aircraft that weighs less than a certain amount and is designed for recreational flying, often not requiring a traditional pilot's license in some jurisdictions.

Tenants In Common

Owners of an undivided interest in property, with each owner’s rights going to his or her heirs upon death rather than to the surviving co-tenants.