Characteristics of Profit- Sharing Plans Include All of the Following

question 131

Multiple Choice

Characteristics of profit- sharing plans include all of the following with the exception of:

• A) A predetermined formula is used to allocate employer contributions to individual employees and to establish benefit payments.
• B) The company must make contributions to the plan if it has profits during the year.
• C) Forfeitures of benefits under the plan may be reallocated to the remaining participants.
• D) Annual employer contributions are not required, but substantial, recurring contributions must be made to satisfy the requirement that the plan be permanent.

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Definitions:

Overqualified

Referring to a person who has more skills, education, or experience than what is required for a job position.

Narcissism

A personality trait characterized by an inflated sense of self-importance, need for admiration, and a lack of empathy for others.

Perceived Overqualification

The perception that an individual’s education, skills, or experience exceed the requirements of their current job role.

Vocational Fit

The degree to which an individual's skills, interests, and values align with their chosen career or profession.