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Question 26Q

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Intermediate Accounting (Kieso)
Found in: Page 1161

Short Answer

What are postretirement benefits other than pensions?

A hardship withdrawal is the type of money withdrawal service that a retirement plan offers in an emergency. An employee can withdraw money from their retirement account to meet the uncertainty.

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Step by Step Solution

Introduction

Postretirement benefits other than pensions are those benefits an organization offers to its employee that has served a long duration of employment service in an organization and is paid for their loyalty.

Some of the postretirement benefits other than pensions are

  1. Healthcare
  2. Legal and tax services
  3. Housing activities
  4. Welfare benefits to employees’ spouse
  5. Dental care
  6. Life insurance

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