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    (compensation and benefits) Compare and contrast cash-balance, defined benefits and defined contribution plans. What are the advantages and disadvantages of each? why are organizations making increased use of them? 200-300 words APA format.

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    Solution Preview

    The response addresses the queries posted in 483 words with references.

    //Before writing about the comparison between the Compensation Benefits Plan, we wil

    l write about the cash balance plans, defined benefits plan and defined contribution plans. It will assist in understanding the compensation benefits plans for the organization.//

    Compensation and Benefits

    Cash balance plans (CBP) are a type of defined benefit plan, which supplies the benefits to each employee in accordance with a hypothetical amount to the account balance. For example, hypothetical pay credits, hypothetical interest credits, etc. Defined Benefits Plan (DBP) is the basic outline for supplying a pre-decided retirement benefit to the employees, which is estimated on the basis of the proportion of compensation benefits. For example, pension plans, annuity plans, ...

    Solution Summary

    The response addresses the queries posted in 483 words with references.