答案说的Lump-sum和Early retirement

NO.PZ202301040900001201 问题如下 R-Cubeis a private fountioncateto the aancement of resourrecycling anenvironmentsolutions.Although the fountion is heauarterein Cambrie, Massachusetts, itsheauarters’ staff is minimal. Most of its employees are locatein itsoffices in Tokyo, Japan, anblin, Irelan R-Cubemaintainstwo separate anstinretirement plans for its workers: a trationalfinebenefit pension plfor its Japanese staff ana finecontributionplfor its AmericanIrish staffs. A summary of high-level characteristicsfor eaplare proviin Exhibit 1. The finebenefit pension plisfrozen, with no new participants permitteto join. R-Cubehshifteallfuture hiring to its blin office. R-Cubeontributes 7% of compensation to the accounts of new participants in thefinecontribution plan, increasing its contribution to 11% of compensationfor employees who have been with the company for least five years. Employeesare permitteto contribute up to 16% of their compensation to the plon avoluntary basis. (1) Contrast the time horizon anliquity constraints of the R-Cubepensionanfinecontribution plans. Time HorizonWhile both retirement plans cconsirelong-term, the time horizon of the finebenefit pension plis shorter ththof the finecontribution plbecause of its frozen status.No new participants will joining the pension planit will wounwn over time existing participants antheir beneficiaries e.Liquity ConstraintsThe finebenefit pension plha greater liquity constraint e to its olr workforanthe faththe benefit will paiout over the interminate lives of the participants antheir beneficiaries.The possibility of early retirement anlump-sum payouts amplifies this situation.Further, the pension plan’s benefits are inxeto inflation, increasing the magnitu of benefit payouts going forwar The finebenefit pension plis frozen, with no new participants permitteto join. The hhigher liquity constraints because there is no employee contribution to the plan. But the plstill nee to pthe benefit payment to the retireparticipants.

NO.PZ202301040900001201 问题如下 R-Cubeis a private fountioncateto the aancement of resourrecycling anenvironmentsolutions.Although the fountion is heauarterein Cambrie, Massachusetts, itsheauarters’ staff is minimal. Most of its employees are locatein itsoffices in Tokyo, Japan, anblin, Irelan R-Cubemaintainstwo separate anstinretirement plans for its workers: a trationalfinebenefit pension plfor its Japanese staff ana finecontributionplfor its AmericanIrish staffs. A summary of high-level characteristicsfor eaplare proviin Exhibit 1. The finebenefit pension plisfrozen, with no new participants permitteto join. R-Cubehshifteallfuture hiring to its blin office. R-Cubeontributes 7% of compensation to the accounts of new participants in thefinecontribution plan, increasing its contribution to 11% of compensationfor employees who have been with the company for least five years. Employeesare permitteto contribute up to 16% of their compensation to the plon avoluntary basis. (1) Contrast the time horizon anliquity constraints of the R-Cubepensionanfinecontribution plans. Time HorizonWhile both retirement plans cconsirelong-term, the time horizon of the finebenefit pension plis shorter ththof the finecontribution plbecause of its frozen status.No new participants will joining the pension planit will wounwn over time existing participants antheir beneficiaries e.Liquity ConstraintsThe finebenefit pension plha greater liquity constraint e to its olr workforanthe faththe benefit will paiout over the interminate lives of the participants antheir beneficiaries.The possibility of early retirement anlump-sum payouts amplifies this situation.Further, the pension plan’s benefits are inxeto inflation, increasing the magnitu of benefit payouts going forwar （1）答案提到了是跟Inflation挂钩的，这种情况为什么会对liquity产生影响呢？（2）除去Inflation这个点，麻烦老师帮忙看下我这样写能拿全分数吗？谢谢！Time Horizon:R-Cubepension: The finebenefit pension plis frozen, with no new participants permitteto join. The time horizon of frozen is shorter th's time horizon. The sponsor woulnot make benefit payment until the existing participants e finecontribution plans: The time horizon is lower ththe because the is frozen anthe the average servianparticipant yefor is shorter th. Liquity constraints: The finebenefit pension plis frozen, with no new participants permitteto join. The liquity requirement of frozen is higher th. Because there might lump sum payment for the frozen . The average servianparticipant yefor is higher th so hhigher liquity nee.R-Cubecontributes 7% of compensation to the accounts of new participants in the finecontribution plan, increasing its contribution to 11% of compensation for employees who have been with the company for least five years. The liquity requirement is lower.

NO.PZ202301040900001201 问题如下 R-Cubeis a private fountioncateto the aancement of resourrecycling anenvironmentsolutions.Although the fountion is heauarterein Cambrie, Massachusetts, itsheauarters’ staff is minimal. Most of its employees are locatein itsoffices in Tokyo, Japan, anblin, Irelan R-Cubemaintainstwo separate anstinretirement plans for its workers: a trationalfinebenefit pension plfor its Japanese staff ana finecontributionplfor its AmericanIrish staffs. A summary of high-level characteristicsfor eaplare proviin Exhibit 1. The finebenefit pension plisfrozen, with no new participants permitteto join. R-Cubehshifteallfuture hiring to its blin office. R-Cubeontributes 7% of compensation to the accounts of new participants in thefinecontribution plan, increasing its contribution to 11% of compensationfor employees who have been with the company for least five years. Employeesare permitteto contribute up to 16% of their compensation to the plon avoluntary basis. (1) Contrast the time horizon anliquity constraints of the R-Cubepensionanfinecontribution plans. Time HorizonWhile both retirement plans cconsirelong-term, the time horizon of the finebenefit pension plis shorter ththof the finecontribution plbecause of its frozen status.No new participants will joining the pension planit will wounwn over time existing participants antheir beneficiaries e.Liquity ConstraintsThe finebenefit pension plha greater liquity constraint e to its olr workforanthe faththe benefit will paiout over the interminate lives of the participants antheir beneficiaries.The possibility of early retirement anlump-sum payouts amplifies this situation.Further, the pension plan’s benefits are inxeto inflation, increasing the magnitu of benefit payouts going forwar Time Horizon:Time horizon of is longer ththe . However, in this case the is frozen. All new participants now switto the plan. For the originparticipants, hto make continuous benefit payment untill employee's ath baseon the accumulateamount of benefit payment.The only requires sponsor to make 7% of compensation until employee's retirement. Liquity constraints: hhigher liquity nee because onthe is frozne contribution woulnot accumulatebut the sponsor neeto make the benefit payment onthe employee are retire hlower liquity constraints.

NO.PZ202301040900001201 问题如下 (1) Contrast the time horizon anliquity constraints of the R-Cubepensionanfinecontribution plans. Time HorizonWhile both retirement plans cconsirelong-term, the time horizon of the finebenefit pension plis shorter ththof the finecontribution plbecause of its frozen status.No new participants will joining the pension planit will wounwn over time existing participants antheir beneficiaries e.Liquity ConstraintsThe finebenefit pension plha greater liquity constraint e to its olr workforanthe faththe benefit will paiout over the interminate lives of the participants antheir beneficiaries.The possibility of early retirement anlump-sum payouts amplifies this situation.Further, the pension plan’s benefits are inxeto inflation, increasing the magnitu of benefit payouts going forwar 为什么这题只有对的？不是问对比和吗？