Match the following words to complete the statements below: Because many OPEB pl

Question

Match the following words to complete the statements below: Because many OPEB plans currently are financed on a establish a trust fund. , the governments have no need to pay-as-you-go basis are individually responsible for the accumulation of sufficient plan net assets to pay the actuarial accrued liabilities for benefits to their employees as they become due. A government that does not sponsor a pension plan normally participate in...? Professionals with particular expertise in computing the costs of long term business risks are called Actuaries

Explanation / Answer

Answers are given in the order of blanks and relevant explanations are given.

1. External plans - EU High Representative for foreign affairs Federica Mogherini and Commissioner for European Neighbourhood Policy and Enlargement Negotiations Johannes Hahn explain in a joint Op-ed that with the External Investment Plan, the EU is taking its aid policies to the next level, by involving the private sector in order to achieve a sustainable growth and the transformation agreed in the Sustainable Development Goals

2. Agent employers - Agent employers will report the following changes in the total pension liability as pension expense in the year they occur (in other words, immediately): service cost (the value of new benefits earned each year), interest on the total pension liability, and changes in the benefit terms (improvements or reductions in benefits).

3. Pay-as-you-go basis - A retirement plan where the plan beneficiaries decide the contribution either by having the specified amount regularly deducted from their salary or by contributing the desired amount in a lump sum

4. Actuaries - A person with expertise in the fields of economics, statistics and mathematics, who helps in risk assessment and estimation of premiums etc for an insurance business, is called an actuary.

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