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:
b) value fairness, supportiveness and respecting individual rights.
Explanation:
People-oriented culture is a business approach that believes in investing in the employees and recognizing their role in the organization. It caters to the needs and support employees for the upliftment of a company. It develops a culture where people look at the work as fun and therefore actively peruse their work. It is n contrast to the traditional task-driven approach of business model. This culture considers employees to the greatest asset to the company.
Answer:
The caste system is structured in terms of the businesses. The area of work defines what caste a certain person belongs to. Work lines such as agriculture and trade are considered as the higher and more prestigious castes whereas the lower level works such as music is considered as a caste of lower rank.
People are known from the caste background they belong to and that defines their role in the society. People tend to marry in the same caste to avoid mixing up in lower castes. some castes are given preference over other in the employment market. This also gives rise to inequality in the society.
Answer: Three Reasons Why The Articles of Confederation:
1. There was no power to enforce laws.
2. No judicial branch or national courts.
3. Amendments needed to have a unanimous vote.
Explanation: