When It Comes to Dealing with the Aging of the Baby

question 85

Multiple Choice

When it comes to dealing with the aging of the baby boom generation, what are enlightened companies doing?

• A) They are encouraging members of this generation to take early retirement since they represent surplus labour.
• B) They are outsourcing many of the retirees' job positions.
• C) They are supporting a proposed new government policy to raise the retirement age to 70.
• D) They are creating programs to retain their best employees through flexible schedules, training opportunities, and creative pay schedules.

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Definitions:

Promised Benefit Levels

The specific amount of benefits, often related to pensions or insurance, guaranteed to recipients based on a predetermined plan.

Trust Fund

A legal entity established to hold assets on behalf of a person or group, managed by a trustee.

Additional Government Borrowing

The process by which the government incurs more debt through issuing bonds or taking loans to finance its expenditure beyond its income.

Higher Taxes

Refers to increased charges imposed by governments on individuals or entities' income, activities, or transactions.