All of the Following Characterize Cash Balance Plans EXCEPT ________

question 79

Multiple Choice

All of the following characterize cash balance plans EXCEPT ________.

• A)lacks portability
• B)offers predictable benefits
• C)considered hybrid pension plans
• D)employees earn interest on contributed amounts

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Definitions:

Scienter

A legal term denoting knowledge on the part of a person who commits a wrongful act, especially in securities law, where it involves knowledge of the act's deceitful or fraudulent nature.

Malpractice Action

A legal action filed against a professional person for failure to act in accordance with prevailing professional standards.

Properly Perform

To execute or carry out a task or duty correctly, efficiently, and up to the expected standards or specifications.

Generally Accepted Accounting Principles

Generally Accepted Accounting Principles (GAAP) refer to a common set of accounting rules, standards, and procedures used in preparing financial statements in the United States.