Which of the following employee benefit plans is defined by the following statement: “post-employment benefit plans under which an entity pays fixed contributions into a separate entity and will have no obligation to pay further contributions if the fund does not hold sufficient assets to pay all employee benefits relating to employee service in the current and prior periods”?*1 pointDefined benefit planPost-employment benefit planDefined contribution planMulti-employer plan

These are retirement benefit plans under which the amounts to be paid as retirement benefits are determined by contributions to a fund together with the investment income thereon.*1 pointDefined benefit plansVested benefit plansDefined contribution plansDefined insurance plans

Established by the employer to provide benefits to one or more employees after the formal retirement are termed as:*1 pointPension fundTermination benefitsPost-employment benefitsPost-employment benefit plan

Employer-sponsored plans that provide pay to an employee when he/she is unable to work because of a non-work-related illness or injury are termed as _____ plans.Question 3Answera.defined benefitb.employee assistancec.defined contributiond.salary continuatione.sick leave

The benefits which are payable after the formal retirement of an employee are termed as:*1 pointShort-term employee benefitsTermination benefitsPost-employment benefitsOther long term employee benefits

Under this plan, both the employer and employee share in the retirement benefit cost.*1 pointContributory planNon-contributory planFunded planUnfunded plan