A Statewide Pension Plan Exists for All Local Governments in a Certain

question 133

Multiple Choice

A statewide pension plan exists for all local governments in a certain state.The provisions of the plan indicate that each qualifying retiree receive 2% multiplied by the number of years active employment multiplied by the average salary for the past four years of service.The government calculates the actuarial liability on a statewide basis,not by individual government.The plan would be known as a (an) :

• A) multiple-employer, defined benefit, agency plan.
• B) multiple-employer, defined contribution plan.
• C) multiple-employer, defined benefit, cost-sharing plan.
• D) Single employer plan.

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Definitions:

Deindividuation

A concept in social psychology that refers to the loss of self-awareness in groups, which can lead to disinhibited and impulsive actions.

Social Loafing

The phenomenon where individuals exert less effort when working in a group compared to when working alone.

Group Outcomes

The results or consequences of actions taken by a group as a whole, which can affect the group’s cohesion, performance, and individual member's satisfaction.

Less Accountable

Refers to a reduced sense of responsibility or obligation to justify one's actions or decisions to others.