JKL Company Just Converted Its Traditional Defined-Benefit Plan to Another

question 1

Multiple Choice

JKL Company just converted its traditional defined-benefit plan to another type of plan.Under the plan,benefits are defined in terms of a hypothetical account balance,with retirement benefits dependent upon the value of the participant's account at retirement.Each year,employees receive an interest rate credit and a pay credit which is a specified percentage of compensation.This type of plan is called a

• A)section 401(k)plan.
• B)deposit-administration plan.
• C)cash-balance plan.
• D)trust fund plan.

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Definitions:

Reputations

The beliefs or opinions that are generally held about someone or something's character, achievements, and qualities.

Word-Of-Mouth

The process of information or recommendations being passed from person to person, especially as a method of informal advertising.

Fragile

Characterized by being easily broken or damaged, often used metaphorically to describe situations, relationships, or systems that are unstable or vulnerable.

Content Strategy

Planning, development, and management approach to create and distribute valuable, relevant, and consistent content to attract and retain a clearly defined audience.