Asked by Sarah Randolph on Jul 26, 2024
Verified
What are vesting rights?
A) the ability of retired employees to retain their seniority if they return to work at their former employer
B) a government commitment to provide retirement benefits to all U.S. workers
C) the designation that retired workers will receive cost-of-living increases as part of their monthly pension checks
D) the guarantee that employees in a pension plan will receive a pension at retirement age, regardless of whether they stay with the employer
E) the ability of younger workers to move their retirement savings to another account after leaving a specific employer
Vesting Rights
Guarantee that when employees become participants in a pension plan and work a specified number of years, they will receive a pension at retirement age, regardless of whether they remained with the employer.
Pension Plan
A pension plan is a retirement plan that requires an employer to make contributions into a pool of funds set aside for a worker's future benefit. The funds are invested on the employee's behalf, and the earnings on the investments generate income to the worker upon retirement.
Retirement Age
The age at which a person is eligible to retire and receive full pension benefits, typically set by government policies or employment agreements.
- Understand the legal aspects and compliance requirements of offering benefits such as retirement plans and health insurance.
Verified Answer
Learning Objectives
- Understand the legal aspects and compliance requirements of offering benefits such as retirement plans and health insurance.
Related questions
What Is an Advantage of a Qualified Plan in Retirement ...
What Does a Summary Plan Description Describe ...
Edgar, a Production Worker, Complains to a Human Resource Professional ...
Allen, the CEO of a Company, Considers Dropping Medical Insurance ...
Justin Is a Human Resource Manager at an Advertising Firm ...