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?
Correct answer: A. deferred profit sharing plan
- A. deferred profit sharing plan
- B. savings and thrift plan
- C. cash balance plans
- D. early retirement window
Explanation
A deferred profit-sharing plan places a specified share of company profits into employees' accounts, with payment generally deferred until retirement, death or another permitted event. A savings and thrift plan is based mainly on employee contributions and often matching contributions.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? support@testustad.com
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.
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
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?
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?
In employees' pension plan, a portion of employees' earnings contribution into the fund is classified as?
The human resource management functions aims at____________?
Under which of the following authority, an HR manager took the decision to provide training to its employees regarding the operations of newly installed machine?