Which of the following is not an approach to financing employee benefits? Select one: a. Noncontributory b. Employee-financed c. Contributory d. Voluntary
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Which of the following is not an approach to financing employee benefits?
Noncontributory
Employee-financed
Contributory
Voluntary
Step by step
Solved in 2 steps
- When the employee bears the entire costs of discretionary benefits it is referred to as which type of financing? Select one: a. Contributory b. Noncontributory c. Employee-focused d. Employee-financedWhich of the following is an indicator that an employee benefit is provided in exchange for services? the benefit is provided in accordance with the terms of an employee benefit plan the benefit is conditional on future service being provided either of the choices both of the choicesIt 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 b
- What is an ‘employee benefit’ and what are the various forms that these benefits can take?In a defined contribution plan, as long as the employer makes a definite contribution to the plan, the investment risk is carried by the employee. a. TRUE b. FALSEWhich one of the following increases the labour costs to an entity? Select one: O A. Productivity bonus O B. Employee deduction for trade union membership O C. Income tax O D. Employee contribution to pension fund Clear my choice
- A Defined Benefit Plan defines the following: O A. Your (employee) contributions to the plan B. The rate of return on assets (stocks, bonds, etc.) in the plan C. In most cases, is funded almost entirely by the employer D. Both A & C E. None of the aboveWhich of the following is true of defined benefit plans? Select one: a. Contributions are not attributed to specified employees. b. Plan costs are predictable. c. They cannot provide benefits for past service. d. Employees assume the risks of preretirement inflation and investment performance.Employee benefits are all forms of monetary consideration given by an entity in exchange for services rendered by employees or for the termination of employment. a. TRUE b. FALSE
- In a defined contribution plan, as long as the employer makes a definite contribution to the plan, the investment risk is carried by the employee. In a defined contribution plan, as long as the employer makes a definite contribution to the plan, the investment risk is carried by the employee. True or false?Explain Employee benefit plans.Which of the following amounts paid by an employer to an employee is not subject to withholding? Oa. Salary Ob. Travel expense reimbursements from an accountable plan Oc. Commissions UE Od. Bonus Oe. All of these choices are subject to withholding.