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Compare Cash Balances

(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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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, ...

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

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