, et.al., 2005; Beam, 2001)).
Marketing Plan -- Each plan offers pluses and minuses depending on the unique situation of the employee. The basis, though, for either plan is a process of communication and buy-in from the employees so that we can move forward toward funding. For the plan to be effective, it must be hierarchical, transparent, repetitive, and explanatory.
Preliminary -- Management committee sets up plan, files required documents, has documents reviewed by CFO and Legal, and works with marketing to publish the plan and documents.
Step 1 -- hole company meeting. Presented by CEO, announcement of retirement plan using Power Point Presentation. The presentation will also be filmed for later viewing, podcast, and available through Internet access for those who cannot attend. In this presentation, the broad levels of the plan will be outlined, the timeframe explained, and there will be a brief question and answer period. In addition, employees will…...
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Works Cited
Baker, a., et.al. (2005). Managing Pension and Retirement Plans. New York: Oxford University Press.
Perman, C. (2010, Septmber 21). 10 Companies with the best Retirement Plans. Retrieved from CNBC.COM: / 10_Companies_with_the_Best_ Retirement_Planshttp://www.cnbc.com/id/39286748
The client is a married male in his mid-twenties. It is projected that the client will graduate from college within the next year or so and immediately enter the workforce. The client's degree is in engineering and he is expected to land a well-paying job in a relatively short time. He and his spouse are currently childless but plan on having at least two children. The couple lives in an apartment but are plan on purchasing a house in whatever city the job is offered. The client comes from a long-lived family with the average family member living well into their eighties. The client wishes to pass on accumulated wealth without paying a large percentage in taxes to the government. The client plans on retiring at the age of 70, and will then travel and enjoy life with his spouse.
Current income needs are approximately $2,000 per month. This…...
Retirement Planning
A comfortable retirement is a goal for most workers, but ensuring that comfort takes planning and foresight. Planning for retirement is much more complicated than opening a bank account or belonging to an employer-sponsored pension plan. hile these are excellent beginnings, workers must plan for any and all events that can and will happen after retirement. Employees not only need to plan for retirement income, but they must also plan for the disposition of assets upon death. Employees need to decide where they will live after retirement, how tax matters with be handled, what insurance will be needed, and the list goes on.
Planning for retirement should begin as early as possible in life. ith some careful thought, however, the planning process can be started at any time. The secret is to actually put together a plan at any age, however, the sooner workers begin planning, the more time they…...
Of course, lower income workers have less economic advantage during their worker lives, but when considering retirement benefits, it is necessary to measure them against one's lifetime earnings -- a successful retirement plan is that which allows one to retain the same basic lifestyle, with minimal adjustments, as they did during their working life (Fox 2009). When it comes to Social Security, this perspective quite obviously puts the middle class at a distinct disadvantage.
Other more complex regulations concerning contributions to retirement accounts create other imbalances. There are limits to the yearly contributions that can be made to individual tax-deferred retirement accounts, usually based on both absolute dollars and percentages of income (U.S. Dept. Of Labor 2009). For many of these accounts, married individuals can maintain separate accounts, in effect doubling the amount of annual contributions that can be made to retirement savings (U.S.. Dept. Of Labor 2009). At the same…...
etirement
Planning for retirement can be a significant source of anxiety for most people, even those who are currently financially secure. A lack of job security compounds the problem of being able to properly save money for retirement. Mandatory retirement laws make financial planning for retirement even more important, even for the very young. Ideally, I would like to have at least $500,000 in the bank, as cash, for my retirement. As a student on a relatively small salary, this sum seems enormous but I need to remember that if I save even small amounts now, by the time I am old enough to earn a healthy salary that I can perhaps put aside $10,000 per year with the goal of saving $500,000 for retirement. At an ideal interest rate of 7.5%, my retirement account would be sufficient for daily living expenses and regular medical care.
Retirement Planning
Retirement means different things to different people. For some, retirement means being sufficiently financially independent to travel and relax 24 hours a day. Others may view retirement as a "career change." However an individual views retirement will help determine how much he or she will need to retire. Will the lifestyle change dramatically in retirement, or will an individual continue doing the things you currently do, trading work for leisure and volunteering? Will they incur more expenses in retirement for leisure and travel, or will they prefer to spend more time with children, grandchildren and family?
To get better idea of what expenses will be when an individual is ready to retire, the expenses should be adjusted for inflation. Unfortunately, no one knows the future rate of inflation, so estimates must be made. The table below provides a multiplication factor for expenses for different rates of inflation. For example, if…...
To get a reasonable return on a corporate these days, one must sacrifice investment quality, at which point it makes more sense to purchase a higher-quality equity.
ith respect to asset classes among equities, diversification is the most important objective. ith that in mind, all three categories should be represented. Historically, the large caps are the most reliable of the three asset classes, with the lowest risk. These are companies with large markets and they operate in the U.S. so there is little information asymmetry with respect to these stocks. Since the other two classes are higher-risk, they should carry with them a premium. It is worth remembering, however, that most U.S. large caps have a lot of exposure to foreign markets. Rather than investing in a Chinese company you know nothing about to get access to China's growth, you would do just as well to invest in Starbucks or…...
.. Neglecting to do this is the number one mistake made by spouses who inherit because it is the key to the survival of the account after the spouse's death, and it's the key to keeping it in the family."
On page 68 he says taxes on 401(k) NUA lump-sum distributions have changed. "At one time, this special break tax break for easing the burden on lump-sum distributions from ompany plans was available two ways: using 5-year averaging or 10-year averaging. Now just 10-year averaging is used if you qualify for this tax break." In order to qualify for 10-year averaging you must have been born before 1936, you must take the distribution all in one tax year and you must have been in the plan for at least five years before the year of the distribution. He suggests that 403(b)s be rolled over into IAs when one retires and this…...
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References
Aaron, J. (2001). The Little, Brown compact handbook (4th ed.). New York:
Longman.
American Psychological Association (2001). Publication manual of the American
Psychological Association (5th ed.). Washington, DC: American Psychological Association.
Every time I walked by your classroom, I would see the students with their desks together, working on projects, and the room was always decorated with educational media and students' artistic creations."
One of the parents of a special needs child stood up. "Your class, coupled with resource room help, was so important for my son. Brad is very gifted at physical skills and art, but he always struggled to catch up in language arts and math. You stayed with him after class, and taught him special visual and mnemonic devices that reinforced what had been learned during the day, enabling him to keep pace with his peer group. Now he is a college student and is no longer classified as special needs."
Another parent added: "I remember chaperoning with you on the Washington DC trip for the 8th grade. It was amazing how you always kept your sense of humor,…...
Retirement Options
Almost one-third of American workers are failing to prepare themselves for a comfortable retirement, according to a new survey conducted by American Express. The national telephone survey of working adult men and women who had recently left or lost their jobs revealed that 30% did not invest for retirement in their company's 401(k) plan.
The survey also revealed that 16% of these participants rolled their money into an IRA, and the majority of those who rolled their assets said they would make the same decision again. Eleven percent of those surveyed reported that they cashed out of their retirement plan because they needed the money to pay off debt or for everyday living expenses.
While these participants may have felt that these decisions were best for their situations, financial experts would have advised them against going through with their decisions. For example, money invested in a 401 (k) plan is money…...
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Bibliography
BuyerZone. (2003). 401(k) Plans: Buyer's Guide. BuyerZone.com, Inc. Retrieved on the Internet at:
Danes, Henry. (March, 1998). Win the New Retirement Game. Money Magazine, p. 80.
Halverson, Richard. (April 12, 2001). The 401(k) The Nation's Biggest Tax Shelter for Ordinary People (and it was an accident). Meridian Magazine. Retrieved on the Internet at http://www.buyerzone.com/benefits/401k/buyers_guide2.html http://www.meridianmagazine.com/moneywise/000913401k.html.
As Geisel (2004) notes:
Income-tax deductions are worth the most to high-bracket taxpayers, who need little incentive to save, whereas the lowest-paid third of workers, whose tax burden consists primarily of the Social Security payroll tax (and who have no income-tax liability), receive no subsidy at all. Federal tax subsidies for retirement saving exceed $120 billion a year, but two thirds of that money benefits the most affluent 20% of Americans.
Despite all that, the 401(k) is called, by some, "the envy of the world" (Calabrese & MacGuineas, 2003). Traditional and 401(k) pension plans have, between them, nearly $7 trillion in assets, and account for the "vast majority of financial assets accumulated by households in recent years (Calabrese & MacGuineas, 2003). The authors say that the system works well because it offers powerful incentives, tax breaks and employer matching contributions -- to encourage individuals to contribute to the plans. Other reasons…...
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Woods, John. "The Changing Profile of Pensions." Social Security Bulletin 49.2 (1986): 22-25. Questia. 26 Feb. 2005 http://www.questia.com/ .
Woods, John R. "Pension Coverage among the Baby Boomers: Initial Findings from a 1993 Survey." Social Security Bulletin 57.3 (1994): 12-25. Questia. 26 Feb. 2005
e. The employees) as well as on the tax returns of the company itself. Contributions are a tax deduction for the company and are tax-deferred to employees until the time that disbursal begins, but values will still need to be noted.
5)
Josephine's company would be required to make contributions to individual retirement accounts each year, however Josephine personally would not be required to make any contributions to her own 401(k) if she did not wish to (and if the legal documents creating the company's retirement plan policy exempt her from needing to have such a plan in place, and even without this legal provision only the company would be required to make contributions from its profits, not Josephine from her salary). In simple terms, no, Josephine would not be required to make a contribution to her retirement account each year.
7)
401(k)s are very simple -- they are basically like a savings account…...
retirement planning. Beginning as early as age, about what are their dreams for retirement? What goals are important for living during the retirement years? The individual should write their retirement plan and have it available to update when needed.
DESIGNING A STATEGIC ETIEMENT PLAN
People are living longer and having better health than ever before. "We're gained 25 years since 1900. That extra time is added to midlife. We have a second middle age - a period beginning at age 50 to 75" (Kanchier 2002). Often retirement hits before a person is ready? What are the dreams for the future? What is important to one person will be entirely different to another person. That is why determining and designing a strategic retirement plan at an early age is vital to reaching those dreams. The time to do this is "now" and not "later." Begin today.
Introduction/Background: Here Are Some Facts To Consider…...
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References
Fitzpatrick, Seamas. Fall 2002 "Treasure Hunt" Retirement Planning Vol. 56 Issue 9 p. 70
Fitzpatrick, Seamus. Fall 2002 "Your Smorgasbord of Choices" Retirement Planning Vol. 56 Issue 9 p. 10
Franklin, Mary Beth. Fall 2002 "Where You Stay = What You Pay" Retirement Planning Vol. 56 Issue 9 p. 74
Henry, Ed. Fall 2002. "No Reason to Wait" Retirement Planning Vol. 56 Issue 9 P. 56
Two of the most notable ways to save for retirement include the 401(k) investment plan and the IRA. If possible, individuals should use both. The 401(K) offers tax-deductible contributions and taxes on interest are relatively low compared with regular savings accounts. Many large corporations also offer employees incentives to contribute to their 401(K) plans by matching contributions dollar for dollar. Employees should take full advantage of their employees offer to match 401(K) contributions. In addition to the 401(K) employees can also open an IRA account with a financial institution of their choice. Self-employed individuals or those whose jobs do not afford them matched 401(K) contributions would especially benefit from the advantages offered by an IRA, including tax-deferred growth and income tax deductions. The actual features of the IRA vary from plan to plan and advisors at financial institutions can help people plan for their retirement according to their ability…...
Age 60 ule is arousing problems and issues specifically to airline pilots with whom the policy is meant for. The "Age 60 ule" which states a mandatory retirement for airline pilots who reach the age of 60 is now being considered discriminatory especially to experienced pilots whose skills and competence in flying is perfected by their experience and age. Despite of the fact that this policy has been supported by pilot organizations, many pilot unions now see that the "Age 60 ule" is a problem to their aviation profession because of reasons that are based from failures of the medical science to provide sufficient information that the age of 60 is potentially unsafe for administering flights.
eason why the "Age 60 ule" is a Problem
The fact that the medical science is not able to produce a medical system that can provide significant and valid basis to confirm the premise being claimed…...
How to approach a future plans essay depends on the exact prompt used in the essay. So, the first thing that you want to do is to make sure that you understand the question. The first thing to do is to consider your audience? Are you writing a future plans essay for college admissions, for a scholarship, or as part of the interview process for an internship or job? You want to make sure and write your essay with your audience in mind; your future plans need to align with the plans that the audience may have....
Most of our example essays dealing on immigration and the economy focus on the United States, so we cannot point you towards a handy on-point example essay that will outline the format and give you a good idea of the type of content you should have. However, we can still give you a great starting point for an essay about the interaction of immigration and the economy in the UK. In your essay, you could look at several different factors that impact the economy. These factors include the number of available workers,....
I. Introduction A. Definition of family structure B. Importance of understanding family development C. Thesis statement
II. Types of family structures A. Nuclear family B. Extended family C. Blended family D. Single-parent family E. Same-sex family
III. Factors influencing family development A. Socioeconomic status B. Cultural background C. Parental involvement D. Communication E. Conflict resolution
IV. Stages of family development A. Formation stage B. Child-rearing stage C. Teenage stage D. Empty nest stage E. Retirement stage
V. Challenges in family development A. Divorce B. Substance abuse C. Mental health issues D. Financial problems E. Communication breakdown
VI. Communication strategies for....
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