A Pension Plan

question 67

Multiple Choice

A pension plan:

• A)Is a contractual agreement between an employer and its employees in which the employer provides benefits to employees after they retire.
• B)Can be underfunded if the plan assets are more than the accumulated benefit obligation.
• C)Is always funded fully by employers.
• D)Can be a defined benefit plan or an undefined benefit plan.
• E)Is the same as Other Postretirement Benefits.

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Definitions:

Hard-water Scum

The residue formed by the reaction of soap with the magnesium and calcium ions present in hard water.

Best Characterizes

Describes the trait or quality that is most typical or representative of something.

Soap Micelle

Spherical aggregates formed by soap molecules in aqueous solution, where the hydrophobic tails are sequestered inwards and the hydrophilic heads face outward.

Exterior Surface

The outermost boundary or layer of an object, material, or geometrical space that is exposed to the environment or another medium.