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HRCI GPHR Exam - Topic 2 Question 8 Discussion

An organization allows its employees to make 2% of compensation contributions to a retirement plan. After retirement, the company promises to pay employees 50% compensation using the final pay formula. Which of the following is this an example of?
A) Defined benefit plan
B) Totalization agreement
C) Defined contribution plan
D) Lump sum payment

HRCI GPHR Exam - Topic 2 Question 8 Discussion

Actual exam question for HRCI's GPHR exam
Question #: 8
Topic #: 2
[All GPHR Questions]

An organization allows its employees to make 2% of compensation contributions to a retirement plan. After retirement, the company promises to pay employees 50% compensation using the final pay formula. Which of the following is this an example of?

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Suggested Answer: A

by Clorinda at May 07, 2022, 06:59 AM

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Macy
8 months ago
I thought defined contribution plans were more common these days.
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Rebeca
9 months ago
Yup, defined benefit all the way!
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Flo
9 months ago
Wait, are they really only contributing 2%? That seems low.
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Lon
9 months ago
Agreed, 50% of final pay is a classic sign!
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Maddie
9 months ago
This is definitely a defined benefit plan.
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Ines
9 months ago
I’m confused because I thought totalization agreements were about combining benefits from different countries, not this type of plan.
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Herminia
9 months ago
This sounds like a similar question we practiced where the company guaranteed a certain payout based on salary, so I lean towards A.
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Rosendo
9 months ago
I'm not entirely sure, but I remember something about defined contribution plans being more about individual accounts.
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Arlyne
9 months ago
I think this might be a defined benefit plan since it mentions a percentage of final pay for retirement.
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Derick
9 months ago
Okay, I've got this. The "Executive summary" is the correct answer here. It's a concise document that summarizes the key points of a larger report or plan, which is exactly what the question is describing.
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Sabrina
9 months ago
Hmm, I'm not 100% sure on this one. I know the different database processes play important roles, but I'll need to carefully review the options to make sure I select the right one.
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Giovanna
9 months ago
Hmm, I'm a bit confused by the different method calls and return types in the code. I'll need to think through the logic carefully to figure out which option is correct.
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Yuki
9 months ago
I'm a little confused on the difference between some of these options. I know digital display ads are important, but I'm not sure if Facebook ads or Twitter ads would also be considered part of that category.
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