Under a Defined Benefit Plan You Receive a Promised or "Defined

question 54

True/False

Under a defined benefit plan you receive a promised or "defined" benefit payout at retirement.

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Definitions:

Sinking Fund

A fund that accumulates cash to pay off bonds when they are retired.

Interest Revenue

Income earned from lending money or investments in interest-bearing financial instruments.

Contract Rate

The interest rate stated in a contract, such as a loan or lease agreement.

Semiannually

Occurring or conducted twice a year.