Identify three benefits of a defined contribution plan

Reference no: EM133595157

Assignment:

Q1. Review case study #1 Understanding Your Employee Benefits: Investing in your Retirement found on page 123 of your textbook. Please post your answers to the two questions found at the end of the case study page 124.

Q2. Using the free "Retirement 101" link from the International Foundation of Employee Benefit website answer the following questions.

1. Find the squirrel video link towards the bottom of the page. Which squirrel (Nutley or Chester) would you like to be related to retirement savings? Why?

2. Identify what two retirement plans are explained on this site.

3. Select the "Defined Contribution Plan" section what defined contribution plan? Identify three plans that are described.

4. Do employers have to provide a defined contribution plan to its employees?

5. Identify three benefits of a defined contribution plan.

6. How do you reduce taxes by contribution to a define contribution plan?

7. How is a defined contribution plan different from a defined benefit plan?

8. What does the acronym "SPD" mean related to a retirement plan. What would you use it for?

9. Under the "How much should I save for my retirement?" section and the "How much money will I need when I retire?" section choose one of the worksheets provided by the link. How would you use this as a future human resource professional?

10. After reviewing the site identify one tool or section that you could share to a future employee who had questions about retirement savings. How would you use it and how could it help answer the employee's questions. Be specific.

Reference no: EM133595157

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