ter the potential retirement income benefit. efined Contribution Pension Plan (DCPP) egistered Retirement Savings Plan (RRSP) d Age Security ax-Free Savings Account (TFSA) anada Pension Plan (CPP) and Quebec Pension Plan (QPP) 3 II, IV and V 3 III and IV I, II and III
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- The retirement income payable from which of the following retirement income benefit programs is independent of the performance of any underlying investment portfolio? OA. RRSP OB. CPP OC. DCPP OD. TFSA COORD17) Which of the following is the largest pension fund? A) Social Security B) a Roth individual retirement account C) an individual retirement account D) a money market fund E) a corporate insurance planFor Pension Plans: A. Describe the differences between a Defined Benefit pension plan and a Defined Contribution pension plan. B. What are the advantages and disadvantages of each compared to the other?
- The three types of formulas used to determine pension benefits for defined benefit pension funds are the following I. Flat benefit formula II. Career average formula I. Final pay formula IV. Margherita formula A. 1 & II B. II & IV C.I, II & II O D.I, II, III & IV1. Describe and explain the different types of pension plans. Discuss the advantages anddrawbacks of each type of pension plans.Which of the below is not a form of retirement savings plans Group of answer choices Exchange Traded Funds Annuity Roth IRA 401k
- Net interest cost is a component of pension expense under IFRS. How is net interest cost calculated? Select one: O a. The increase in the DBO over the period, net of the increase in the plan assets over the period. O b. Interest expense on the DBO, net of actual interest income earned on plan assets. O c. Interest expense on the defined benefit obligation (DBO), net of expected interest income earned on plan assets. O d. The increase in the DBO over the period, net of the increase in the plan assets over the period.1. What is the actual return on pension plan assets? 2. What is the amount of actuarial gain or loss that will be taken to other comprehensive income? if gain positive amount, if loss negative amount Example: gain --> 1,000 loss --> (1,000)When a defined benefit pension fund has assets whose value is below the present value of its expected future obligations, the plan is Answers: a. Overfunded b. Underfunded c. Fully funded d. Defined contribution
- Explain Pension Benefit Guarantee Corporation1. The interest cost component of the net defined benefit cost is determined using a. the settlement rate of interest. b. the rate of return on high quality corporate bonds c. both a and b. d. neither a or b. 2. Financial reporting standards for pension currently in effect a. allow both the accrued benefit and projected benefit methods. b. allow only the accrued benefit method/ projected unit credit method. c. allow only the projected benefit method. d. do not allow either the accrued benefit or projected benefit methods. 3. Which of the following is not correct? a. PAS 19 does not include any provisions for the recognition of an additional minimum liability. b. PAS 19 does not allow for the recognition of a net pension asset equal to the computed surplus in some circumstances. c. PAS 19 requires the 10% corridor amount in calculating the amortization of deferred gains and losses. d. PAS 19 requires settlement gains and…Define Contribution Pension Plans.