In a Defined-Contribution Plan

question 67

Multiple Choice

In a defined-contribution plan:

• A) only the employee makes contributions into the fund.
• B) the retirement benefits will vary with both the amount contributed and the performance of the fund.
• C) the benefits are determined mainly by years of service.
• D) no vesting is required; employees are eligible for benefits from the time they make their first contribution.

Distinguish between different types of laws (civil, criminal, competitive, administrative, regulatory) and their impact on business practices.

Grasp the exemptions and special considerations within certain legislations, such as the insurance industry's status under antitrust laws.

Comprehend the sources of criminal and civil laws and their relevance to business operations.

Recognize the roles of social entrepreneurs and their quest for resolving social issues through business strategies.

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Definitions:

Phrase

A small group of words standing together as a conceptual unit, typically forming a component of a clause.

Phytoextraction

A method of removing contaminants from soil, water, or air involving the use of plants that can absorb and concentrate pollutants in their biomass.

Diagram

A simplified drawing or plan that represents information or an idea in a clear and concise manner.

Contaminants

Substances that cause pollution or impurity in another substance, often harmful to health or the environment when present at high levels.