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Social ScienceSummarize two concerns regarding cash balance plans.
Expert Answer
Cash-balance plans
The cash-balance plan refers to the pension plans where the employees’ account is credited with compensation plus interest charges by the employer. Cash-balance plans is an alternative to the traditional pension plans adopted by some companies and government to freezing struggling pensions
Major concern with the cash-balance plans are as follows;
- Decreased benefits for older worker
Employees who are highly suffering from this problem are those who are near to the retirement in mid-carrier. Employees who pay ...
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