Defined Benefit Plans Specify the Amount of Benefit an Employee

question 33

True/False

Defined benefit plans specify the amount of benefit an employee will receive on retirement while defined contribution plans specify the amounts that employers and employees will (or can) contribute to an employee's plan.

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Definitions:

Transported

Refers to materials that have been moved from their original location to a new place by natural processes such as erosion or glaciation.

Metamorphic Rock

A type of rock formed through the alteration of pre-existing rocks in response to high heat, pressure, and chemically active fluids.

Deposition

The process by which sediments, soil, and rocks are added to a landform or land mass, often through the action of wind, ice, and water.

Uplift

The process of the Earth's surface rising due to natural geological processes, such as tectonic plate movements.