Examlex
Which of the following serves as an example of the underground or "shadow" economy?
Tax Deductible
Refers to certain expenses that individuals or businesses can subtract from their gross income to reduce taxable income, thereby lowering overall tax liability.
Defined Benefit Plan
A type of pension plan in which an employer promises a specified pension payment upon retirement, based on the employee's earnings and tenure.
Cash Balance Plan
A type of defined benefit retirement plan where employee benefits are expressed as a hypothetical account balance, making it resemble a defined contribution plan.
PBGC
Pension Benefit Guaranty Corporation, a U.S. federal agency responsible for protecting retirement incomes by insuring private-sector defined benefit pension plans.
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