{"id":34340,"date":"2024-01-15T11:54:41","date_gmt":"2024-01-15T11:54:41","guid":{"rendered":"https:\/\/www.greatassignmenthelp.com\/questions\/?p=34340"},"modified":"2024-01-15T11:55:19","modified_gmt":"2024-01-15T11:55:19","slug":"an-employee-survey-at-a-company-indicates-that-many-employees-are-unhappy-with-the-retirement-plan","status":"publish","type":"post","link":"https:\/\/www.greatassignmenthelp.com\/questions\/an-employee-survey-at-a-company-indicates-that-many-employees-are-unhappy-with-the-retirement-plan\/","title":{"rendered":"An employee survey at a company indicates that many employees are unhappy with the retirement plan"},"content":{"rendered":"

Question:- <\/strong>An employee survey at a company indicates that many employees are unhappy with the retirement plan. They would prefer one that would result in employees being paid a fixed amount of money each month. What type of plan would better match the employees’ preferences?<\/p>\n

A. 401k plan<\/p>\n

B. 403b plan<\/p>\n

C. Individual retirement arrangements<\/p>\n

D. Thrift savings plan<\/p>\n

E. Defined benefits plan<\/p>\n

Answer:- The correct answer is E.Defined benefits plan<\/strong><\/p>\n

Explanation:<\/strong><\/p>\n

A defined benefits plan would be better suited to employees\u2019 preferences as their desire for a retirement plan that gives them an assured monthly income.<\/p>\n

In a defined benefits plan, the employer commits to provide a specific monthly benefit upon retirement. The amount depends on a formula that takes into account the salary history and duration of service. The employer pays into the plan and bears investment risk. After retiring, a retiree receives regular monthly payments which continue the entire rest of his life according to the agreed on formula.<\/p>\n

401k, 403b, IRA and thrift savings plans offer retirement income subject to investment returns while the defined benefits plan has a guaranteed predictable lifetime stream of money in retirement. Since the survey revealed that employees prefer to receive a set monthly payment, defined benefits plan is more suitable. It provides the security of income by guaranteeing a fixed monthly benefit that is not affected based on market conditions. This type of plan passes the investment risks from employee to employer.<\/p>\n

To summarize, a defined benefits pension plan offers employees their preferred level of income certainty in retirement through fixed payments for life. Such a plan would be more effective in meeting their needs if compared to account based plans such as 401ks.<\/p>\n","protected":false},"excerpt":{"rendered":"

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