Malcolm is interviewing for a new job and he is evaluating the quality of the pension plans offered for each company he is considering. One company offers a pension plan in which the company will make all contributions to the plan and will base his pension benefit on a formula linked to his pay at the time of retirement and the number of years he was with the firm. This pension plan could be classified as ________.
A) qualified, defined benefit
B) non-contributory, defined benefit
C) non-contributory, defined contribution
D) contributory, qualified
Correct Answer:
Verified
Q54: Financial benefits like employer-paid insurance and vacations
Q77: Employee benefits account for about one-third of
Q90: Job classification is the simplest of the
Q93: All merit increases are cumulative in that
Q95: Plans that put some portion of the
Q96: Social Security provides all of the following
Q97: Historically, the main issue in collective bargaining
Q98: Some employers may misclassify employees as independent
Q101: The Scanlon plan is a type of
Q105: List the steps used to establish pay
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents