In TynsCorp's Pension Plan, the Amount That an Employee Is

question 56

Multiple Choice

In TynsCorp's pension plan, the amount that an employee is to receive upon retirement is set in advance based on the employee's years of service, average earnings, and age at retirement. This is a

• A)contributory plan.
• B)noncontributory plan.
• C)defined-benefit plan.
• D)defined-contribution plan.

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Definitions:

Human Resource Planning

Involves forecasting the organization's future human resource requirements and developing plans to meet those needs.

Workforce Reduction

Strategies and practices aimed at decreasing the number of employees within an organization through layoffs, attrition, or retirements.

Senior Management

Top-level executives responsible for the strategic direction and overall operations of an organization.

Artificial Intelligence

The simulation of human intelligence processes by machines, especially computer systems, enabling them to perform tasks that typically require human intelligence, such as learning, reasoning, and self-correction.