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A flexible benefit plan is a component of salary since the employee contributes part of the money used to buy the benefits. Between the employer's contribution, and the employee's contribution, a person can choose from a variety of benefits including health, dental, and long-term disability
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What type of retirement benefit plan is based on a formula that considers your years of service and highest salary?
What type of retirement benefit plan is based on a formula that considers your years of service and highest salary? A. difined contribution plan. B. variable salary plan. C. fixed salary plan. D. defined benefit plan.
What is the difference between a defined contribution plan and a defined benefit plan?
A defined contribution plan is a retirement plan where the amount contributed is defined, but the eventual payout is not guaranteed. In contrast, a defined benefit plan guarantees a specific payout amount based on factors like salary and years of service.
What are the key differences between a defined contribution plan and a defined benefit plan?
A defined contribution plan is a retirement plan where the amount contributed is defined, but the eventual payout is not guaranteed. In contrast, a defined benefit plan guarantees a specific payout amount based on factors like salary and years of service.
What are the employee contributions for a defined benefit plan?
Employee contributions for a defined benefit plan are predetermined and fixed by the employer, based on factors like salary and years of service. Employees do not typically contribute directly to the plan, as the employer bears the responsibility for funding the plan to provide the specified benefits upon retirement.
Southwest is buyin airtran how will this effect the the employee of airtran?
airtran employee should benefit in a number of increase in salary better pension plan
What benefit plan do you have?
A benefit plan is a specific benefit within a plan type. Benefit plans range from various insurance plans, such as car, life, death, and even home owners.
When was American Benefit Plan Administrators created?
American Benefit Plan Administrators was created in 1951.
What is straight salary?
Salary Plan a salesforce compensation method in which salespeople are paid a straight salary; a salary plan approach provides security and stability but may not provide the incentive associated with commission payments.
Who benefited from the plan?
Those that the plan was designed to benefit
What are two factors in calculating a pension benefit?
Two factors in calculating a pension benefit are the average salary earned by the individual during their working years and the number of years the individual has participated in the pension plan. These factors help determine the amount of the pension benefit the individual will receive upon retirement.
A security plan should be flexible?
Yes
Should a security plan flexIble?
Yes
