Defined-Benefit Plans

question 123

Multiple Choice

Defined-benefit plans:

• A)Are more common than defined contribution plans
• B)Pay a pension based on the amount contributed into the plan by the employee and employer
• C)Do not require any responsibility on the part of the employer for the employees' retirement income; it is based on employee contributions
• D)Usually require an employee to work a very long time for the same employer in order to reap a large benefit

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Definitions:

Frank Gilbreth

Recognized as a pioneer in industrial engineering and management, Frank Gilbreth contributed significantly to time and motion studies, aiming to improve workplace efficiency and productivity.