A pension plan, an employer's acknowledgement of financial standing of employee's account, placing percentage on the basis of annual compensation and interest, regarded as?
Correct answer: D. cash balance plan
- A. employee stock ownership plan
- B. severance pay plan
- C. early retirement window plan
- D. cash balance plan
Explanation
A cash balance plan credits an employee's account with a stated percentage of compensation plus interest, creating a declared account balance for retirement. It is not an employee stock ownership or severance arrangement.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Human Resource Management
Human resource management deals with acquiring, developing, rewarding and retaining employees within an organisation. It includes job analysis, recruitment, selection, training, performance appraisal, compensation, career planning, labour relations and workplace discipline. Recruitment attracts applicants, while selection evaluates them and chooses the most suitable candidate.
Practise Human Resource Management
858 free Human Resource Management MCQs from Management Sciences, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Management Sciences questions like this
Management Sciences is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Human Resource Management questions
The kind of pension plan in which employer's contribution is specified in employee's retirement savings funds is classified as?
The sabbatical leave, funeral leave, jury duty and vacations are the examples of?
For continuous work growth, company's direct, non-financial and financial payments are being received by the employees, categorized as?
The pension plan, in which specific amount of profit is transferred to employees account, that are payable at the time of retirement or death is classified as?
In employees' pension plan, a portion of employees' earnings contribution into the fund is classified as?
The human resource management functions aims at____________?