The Type of Employer Retirement Plan in Which the Benefit

question 58

Multiple Choice

The type of employer retirement plan in which the benefit is determined by a formula that generally includes the worker's average pay and the number of years worked for the company is called a ____ plan.

• A)defined-contribution
• B)defined-benefit
• C)contributory
• D)noncontributory

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Definitions:

Limited-Capacity Memory

A concept in cognitive psychology that suggests human memory has a finite capacity for storing and processing information.

Short-Term

Referring to a limited period of time, often contrasting with long-term or permanent scenarios.

Conscious Repetition

The intentional and repeated practice or review of information to aid memory retention.

Rehearsal

The act of practicing or repeating information or skills to enhance memory or proficiency.