A Plan That Contains a Formula for Determining Retirement Benefits

question 43

Multiple Choice

A plan that contains a formula for determining retirement benefits is known as a ________.

• A) defined contribution pension plan
• B) employee stock ownership plan
• C) defined benefit pension plan
• D) cash balance plan
• E) 401(k) plan

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Definitions:

Productivity Measurement

The process of quantifying the efficiency and effectiveness of production.

Evaluation System

A structured process used by organizations to assess, review, and enhance performance and effectiveness, typically of employees or processes.

Expectancy Theory

Is a fairly complex process theory of motivation that casts the employee in the role of decision maker. Basically, an employee decides whether or not to exert effort, depending on the outcomes he or she anticipates receiving for those efforts as based on calculations concerning expectancies, instrumentalities, valences, and the links among these three components.

ProMES

A performance management system that aims to improve organizational effectiveness by clarifying expectations and objectives.