A Defined Benefit Plan Specifies the Amount or Rate of Contribution

question 25

True/False

A defined benefit plan specifies the amount or rate of contribution that the employer and employees must contribute to the members' accounts in the pension plan.

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Definitions:

Organic Organizations

A type of flexible, adaptive organizational structure characterized by low levels of formalization and high levels of personal empowerment.

Organization Chart

A visual representation of the hierarchical structure of an organization, showing the relationships and relative ranks of its parts and positions/jobs.

Dimensions

Aspects, features, or elements that determine the nature or characteristics of something.

Global Reporting Initiative

An international independent organization that helps businesses, governments, and other organizations understand and communicate their impact on issues such as climate change, human rights, and corruption.