A(n)________ Is a Retirement Plan in Which the Employer Promises

question 141

Short Answer

A(n)________ is a retirement plan in which the employer promises to contribute a specific amount of funds into the plan for each participant.

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Definitions:

Trust Fund

A legal entity established to hold assets on behalf of a person or group, managed by a trustee.

Additional Government Borrowing

The process by which the government incurs more debt through issuing bonds or taking loans to finance its expenditure beyond its income.

Higher Taxes

Refers to increased charges imposed by governments on individuals or entities' income, activities, or transactions.

U.S. Treasury Bonds

Long-term government debt securities issued by the United States Department of the Treasury with a maturity of more than 10 years.