Multiple Choice QuestionMonies put aside by corporations and others for the retirement of their employees are called _____.Multiple choice question.cafeteria benefitsa pension fundcollaterala premium
Question
Multiple Choice QuestionMonies put aside by corporations and others for the retirement of their employees are called _____.Multiple choice question.cafeteria benefitsa pension fundcollaterala premium
Solution
The correct answer is "a pension fund".
Pension funds are amounts of money put aside by corporations and other entities for their employees' retirement. These funds are invested on behalf of the employees, and the returns are used to provide income to the employees when they retire.
Cafeteria benefits, collateral, and premiums are not related to retirement funds. Cafeteria benefits are a type of employee benefit plan that allows employees to choose from a variety of pre-tax benefit options. Collateral is an asset that a borrower offers to a lender to secure a loan. A premium is the amount paid for an insurance policy.
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