Cash balance plan is a retirement plan where workers are credited with a part of their pay annually and a predetermined rate of interest.
<h3><u>What is a Cash balance Plan?</u></h3>
A defined-benefit pension plan with a lifetime annuity option is referred to as a "cash balance pension plan."
<h3><u>What are some features of Cash balance plans?</u></h3>
- Based on defined-benefit needs, the financing caps, funding requirements, and investment risk are established.
- Like a defined-contribution plan, this type of plan is managed on an individual account basis.
- The advantage of these programs is that age-based contribution caps are available.
- Pretax contributions enable those 60 and older to save significantly more money each year than younger people.
You can learn more about defined pension plans work using the following link:
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Answer:
Yes the company must recognise the effects of this ruling.
Explanation:
As provided the law suit was initiated in the year 20x2, because of the activity happened in April 20x2.
Accordingly, company was already prepared for a liability of $100,000.
Whenever an event that occurs after the balance sheet is a mere confirmation to what was expected on balance sheet date, or is in alignment with things on record on the balance sheet date, it shall be provided in the balance sheet of that year.
In the given case the law suit was pending on the balance sheet date and was recorded as a liability then, now after the declaration by the judge, the additional liability of $20,000 shall be provided in the financial books of year 20x2.
You need to know how many hours it took these workers to make the rugs to determine the labor cost.
Answer:
The ABC Corporation is planning to implement an employee share purchase plan on the basis of the codification.
The codification that outlines that employees meeting the limited employment qualifications may participate on equitable basis is '718-50-25-1'.
The codification '718-50-25' is named as 'Recognition' and the given point is mentioned in point 'b' of '718-50-25-1'.
The national labor relation act is the act formed by the government to protect right of employers and the employees.
<u>Explanation:</u>
The National Labor Relations Act of 1935 is a primary rule of United States work law which ensures the privilege of private part employees to sort out into worker's guilds, participate in aggregate haggling, and make aggregate move, for example, strikes.
Congress sanctioned the National Labor Relations Act ("NLRA") in 1935 to secure the privileges of representatives and bosses, to energize aggregate dealing, and to shorten certain private area work and the executives rehearses, which can hurt the general government assistance of laborers, organizations and the U.S. economy.
