The amount of retirement income that employees would receive upon retirement is specified under a defined benefit plan (APERS). A defined contribution plan merely stipulates how much each party—the employer and the employee—puts into the retirement account of the employee.
<h3>What is the difference between defined benefit and defined contribution plan?</h3>
- For each participant in a defined-benefit pension plan, employers finance and guarantee a certain amount as retirement benefits.
- As the participant defers a percentage of their gross pay, defined-contribution plans are largely supported by the employee. Employers may decide to match the contributions up to a specific level.
- The responsibility of saving and investing for retirement has been put on employees as a result of the switch to defined-contribution plans.
- The 401(k) is the preferred defined-contribution plan (k).
- Companies have a consistent preference for defined-contribution plans over defined-benefit plans.
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Answer: A society
Explanation:
A society is a group of people bound by the same geographical territory , who are in a continuous social interaction relying on the same authority and same cultural expectations. From history till present , humans have lived as a society and some types of society that have existed in the past till present include Hunting and gathering societies
, Pastoral societies
, Horticultural societies
, Agricultural societies
. Industrial societies
,Post-industrial societies which differ from each other in terms of characteristics and mode of operations.
Answer :
Life insurance needed = Number of years until the youngest child is 18 x $10,000
(18-2) x 10,000
16 x $10,000 =
=$160,000
Therefore estimated Life insurance needed is $ 160,000
The answer is D bc it makes the most sense I'm just doing this for the creat acc thing
