The type of retirement income plan where the employer assumes the Investment risk is called Multiple Choice Defined Benefit Plan Defined Contribution Plan Group RRSP Deferred Profit Sharing Plan (DPSP) CPP
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- Which of the following IRAS is a profit-sharing plan? Roth savings incentive match plan for employees simplified employee pension traditionalDefine defined contribution (DC) retirement planIt refers to a plan where only the employer contributes to a retirement fund. a. Contributory plan b. Non-contributory plan c. Unfunded plan d. Libreko plan
- Which of the following increases the Employee Benefit Expense? Actual return on plan assets Gain on remeasurement of plan assets Interest income on plan assets Loss on settlement of benefit obligationWhich of the following is not a component of pension expense? a. amount funded b. service cost c. expected return on plan assets d. interest costWhich of the following types of pension plan will provide benefits that are dependent on the return on the investment of contributions? Defined benefit plan. Defined contribution plan. Undefined benefit plan. All of these choices.
- Define defined benefit (DB) retirement planFor Pension Plans: A. Describe the differences between a Defined Benefit pension plan and a Defined Contribution pension plan. B. What are the advantages and disadvantages of each compared to the other?S1: Under a defined contribution plan, the amount of a participant’s future benefits is determined by the contributions paid by the employer, the participant, or both, and the operating efficiency and investment earnings of the fund. S2: Under a defined benefit plan, the payment of promised retirement benefits depends on the financial position of the plan and the ability of contributors to make future contributions to the plan as well as the investment performance and operating efficiency of the plan. Only S1 is true None is true Only S2 is true Both are true
- Which type of retirement plans are subject to contribution limits? Select one: a. Only defined contribution plans b. Only defined benefit plans c. Neither defined benefit nor defined contribution plans d. Both defined benefit and defined contribution plansIt is a type of retirement plan where the benefit to be received by the employee is dependent on the contributions made to the plan and on the investment performance of the plan. The risk that the benefits to be received may be insufficient is retained by the employee. a. Defined contribution plan b. Defined benefit plan c. none of the above d. a or bWhere a post-employment benefit plan contains characteristics of both defined contribution and defined benefit, the plan is considered to be a. Defined contribution plan b. Defined benefit plan c. High breed plan d. a or b