Defined contribution plan

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The Senario Jamaica Stained Paint (JSP) is a small company specialized in stained glass windows, primarily for churches. The company was just purchased and the new owner was amazed that there was no retirement plan for JSP workers. The new owners would like to provide adequate retirement benefits for workers and reward long-time servive. The work force consists of 14 skilled artisans, each of whom is over age 50 and has been with the company for over 25 years; 2 salespersons ages 40 and 55; 3 packing and delivery workers ages 35, 27, and 38; and a book keeper age 54. Based on this situation, adopted the defined contribution plan and state the Con/ Negatives or Arguments against the defined benefit plan as to why it should not be used.

Reference no: EM133113618

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