In employees' pension plan, a portion of employees' earnings contribution into the fund is classified as?
Correct answer: D. savings and thrift plan
- A. cash balance plans
- B. early retirement window
- C. deferred profit sharing plan
- D. savings and thrift plan
Explanation
A savings and thrift plan requires employees to contribute a portion of their earnings to a retirement fund, often with an employer match. A deferred profit-sharing plan is funded from the employer's profits rather than primarily from employee earnings.
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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.
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