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Home / Questions / Health savings accounts are benefit plans established by employers that allow employees de

Health savings accounts are benefit plans established by employers that allow employees de

Health savings accounts are benefit plans established by employers that allow employees deposit a certain portion of their salary into an account before paying income taxes with money to be used for eligible expenses. 

 

22) Money deposited into HSAs is not owned by an employer and can roll over into the next year. 

 

23) A defined benefit plan is a formal retirement plan that provides the participant with a fixed benefit upon retirement. 

 

24) Verizon, Lockheed Martin, Motorola and IBM have all decided to eliminate the defined benefit form of retirement. 

 

25) A defined contribution plan is a retirement plan that requires specific contributions by an employer to a retirement or savings fund established for the employee. 

 

26) A 401(k) plan is a defined benefit plan in which employees may defer income up to a maximum amount allowed. 

27) A cash balance plan is such a plan with elements of both defined benefit and defined contribution plans. 

 

28) An employee stock option plan is a plan in which a firm contributes stock shares to a trust. 

 

29) Many people do not like ESOPs because they simply do not want to take the chance that the stock is going to be less valuable when they retire. 

 

30) Stock options first appeared in auto industry labor agreements in 1955 and have spread to many industries; they are usually financed by the company. 

Dec 11 2019 View more View Less

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