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- What does it mean to vest in a defined benefit or defined contribution plan?
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- What is the difference between a contribution- and a benefit-orientedretirement plan?They are the Defined Contribution Plans and Defined Benefit Plans. What are the distinct differences between the two plans? State the core differences and also their advantages and disadvantages, if any. a. Defined Contribution Plan: b. Defined Benefit Plan:For 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?
- what is the difference between Accumulated Benefit Obligation and Projected Benefit Obligation? How do you determine the Plan Asset/Liability? How do you compute the Pension Expense?**Please provide in details How is the Accumulated Benefit Obligation (ABO) different from the Projected Benefit Obligation (PBO)? What events may cause the balance of the PBO to change?Which type of retirement plans are subject to contribution limits? Select one: a. Only defined contribution plans b. Only defined benefit plans c. Neither defined benefit nor defined contribution plans d. Both defined benefit and defined contribution plans