How Frequently Should the Aggregate Plan Be Rerun

question 62

Multiple Choice

How frequently should the aggregate plan be rerun?

• A)Weekly
• B)Monthly
• C)Every 3 to 8 months
• D)As inputs to the aggregate plan change

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Definitions:

Gross Salary

The total earnings of an employee before any deductions like taxes and retirement contributions.

Accrued Benefits

Benefits earned or accumulated but not yet paid to employees or policyholders.

Employee Benefits Expense

Costs incurred by employers to provide benefits to employees, such as health insurance, pensions, and paid leave, beyond regular wages or salaries.

FICA Tax

Federal insurance contributions tax; a U.S. federal payroll tax imposed on both employees and employers to fund Social Security and Medicare.