Which of the Following Is Typically a Characteristic of a Defined

question 140

Multiple Choice

Which of the following is typically a characteristic of a defined benefit plan?

• A)employer funded with federal rules setting the amounts that employers must contribute
• B)employee contributions generally required
• C)no federal guarantee of benefits
• D)employee-managed investments
• E)account balances transferable to IRAs

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Definitions:

Employment Insurance (EI)

A social welfare program that provides temporary financial assistance to unemployed workers who meet certain eligibility criteria.

Employees Contribute

The involvement or effort of workers in their job roles, tasks, or towards organizational goals.

Flexible Benefits Plans

Flexible Benefits Plans are employee benefit programs that allow workers to choose from a range of benefit options tailored to their personal needs and preferences.

"Cafeteria" Plans

Flexible benefit plans that allow employees to choose from a menu of options to create a benefits package tailored to their needs.