ACC423 week 5 individual

ACC423 week 5 individual - A defined contribution plan is a...

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Unformatted text preview: A defined contribution plan is a pension plan in which the employer defines the amount of money will contribute for growth in the pension for the employee at a later date. The obligation is on the e to make sure they contribute the money they promised A defined Pension Plan is a plan in which the employer states a ending amount at which the emp will receive when they retire. The obligation is on the employer to make sure they contribute enou to allow the employee the benefits they were promised they employer loyee ugh 1. Service Cost - the initial cost that the actuary projects over the life of the pension 2. Interst Cost - the increase in cost over the period of time the pension last 3. Return of plant assests - change in the market value of plant assets that effect the return on pen 4. Amoitization prior service costs - the cost of previous benefits that are amoritized over the life o4....
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ACC423 week 5 individual - A defined contribution plan is a...

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