Retirement Quizzes-A retirement plan in which a fixed

Answer to Quiz

A retirement plan in which a fixed amount is paid to the employee after a certain number of years of service is called:

Answer: (a), defined benefit pension plan
A "defined benefit plan" is a pension plan set up by a company to make specified payments to qualifying employees upon their retirement. A "defined contribution plan" is a pension plan set up by a company to make specified contribution into the plan on behalf of qualifying employees.

Next Quiz:

What are the factors that influence the amount payable under a pension plan?

(a) Age of retirement
(b) Level of compensation
(c) Years of service
(d) All of the above

Word of the Day

Stop-Loss Order

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Stop-Loss Order

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