Under a Defined-Benefit Plan, the Contribution Is Fixed but Benefits

question 24

True/False

Under a defined-benefit plan, the contribution is fixed but benefits can vary.

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Definitions:

Percent Equivalent

The percentage representation of a fraction or decimal, used to compare rates, efficiencies, or proportions across different contexts.

Five-figure Accuracy

A level of precision where a number is accurate to the fifth digit.

Accurate

Characterized by preciseness and exactness in details or measurements.

Terminating Decimal

A decimal that comes to an end or has a finite number of digits after the decimal point.