Asked by Lauren Proehl on Jul 23, 2024
Verified
Because of added expenses and complicated governmental rules, defined-benefit pension plans are falling out of use.
Defined-Benefit Pension Plans
Retirement plans where employee benefits are determined by a formula based on factors like salary history and duration of employment.
Governmental Rules
Regulations and directives established by government bodies that dictate the conduct of individuals, businesses, and other organizations within its jurisdiction.
- Contrast the diverse pension schemes and outline their unique attributes.
- Analyze the performance of numerous benefits plans and the considerations vital for their execution.
Verified Answer
RR
Rukalisi RaucewaleJul 27, 2024
Final Answer :
True
Explanation :
Defined-benefit pension plans are becoming less common due to their high cost and complex regulatory requirements, leading many employers to favor defined-contribution plans instead.
Learning Objectives
- Contrast the diverse pension schemes and outline their unique attributes.
- Analyze the performance of numerous benefits plans and the considerations vital for their execution.
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