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Justin was employed as an auto mechanic with Madison & Sons Auto Shop.Mr.Madison employed 20 mechanics in each of his facilities in Denver,Colorado.Justin was the only African-American mechanic and had been employed by Mr.Madison for approximately nine years.He applied for a promotion to chief mechanic on four separate occasions and each time,the promotion was given to a white male with less seniority and less experience.After being denied the promotion for the fifth time,Justin filed a discrimination claim with the Equal Employment Opportunity Commission (EEOC) .Justin's employment was terminated by Mr.Madison after the EEOC contacted Mr.Madison concerning the claim.Which of the following will hold true in this scenario?
Cash Balance Plan
Retirement plan in which the employer sets up an individual account for each employee and contributes a percentage of the employee's salary; the account earns interest at a predefined rate.
Predetermined Rate
A fixed charge, wage, or value established in advance for transactions, services, or labor, often based on standard criteria or prior agreements.
U.S. Treasury Bills
Short-term government securities with maturities ranging from a few days to 52 weeks, sold at a discount from their face value.
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