Asked by Zachary Siegel on Jul 22, 2024
Verified
Defined-benefit plans are declining in use in Canada.
Defined-Benefit Plans
A retirement plan where the employer guarantees a specified pension payment upon retirement, based on the employee's earnings history, tenure of service, and age.
- Describe the differences among multiple types of pension plans and their specific characteristics.
Verified Answer
MS
Madison SchroederJul 27, 2024
Final Answer :
True
Explanation :
Defined-benefit plans are declining in use in Canada as employers increasingly favor defined-contribution plans, which shift the investment risk from the employer to the employee.
Learning Objectives
- Describe the differences among multiple types of pension plans and their specific characteristics.
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