Homework Answers
Answer 4(a)
A. Defined Contribution Plans are the post-employment benefits in which an enterprise pays fixed contributions into a separate fund and will no obligations to pay any amount in future.
Under this plan, the actuarial and investment risk falls upon the employee as there might be a chance that the benefits will be less than expected or the assets will be insufficient to meet expected benefits.
B. Defined Benefits Plans are the post-employment benefits which are not covered by the defined contribution plans.
Under this plan, the actuarial and investment risk falls upon the employer and a very detailed actuarial calculation is performed to determine the charge.
4(b) Problems being faced in Providing Benefit Plans:
1 Increasing Cost Benefits.
2. change in Benefit Offerings.
3.Working with brokers
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