The Retirement Plans That Guarantee Retirees a Set Amount of Money

question 2

Multiple Choice

The retirement plans that guarantee retirees a set amount of money each month are known as:

• A)401(k)plans.
• B)self-directed plans.
• C)defined-benefit plans.
• D)defined-contribution plans.

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Definitions:

Cross-functional

Relating to or involving multiple departments or areas of expertise within an organization, aimed at achieving a specific goal.

Empowered Members

Individuals within an organization or team who are given authority, resources, and the capability to make decisions and contribute to the group's objectives.

Entire Service

The full range of services or support provided by an organization or system, covering all aspects of its offering.

Self-managed Team

A group of employees who are provided with the autonomy to plan, execute, and control their own work tasks and processes, often without direct supervision.