FHCE 2100 Lecture Notes - Lecture 9: Employee Retirement Income Security Act, Collegehumor, Employee Stock Ownership Plan

• School: University of Georgia
• Department: Financial Planning, Housing and Consumer Economics
• Course: FHCE 2100
• Professor: Carswell

Document Summary

Employer benefits are reduced, or not available (future of ss (government benefits) is questionable) )mpairment prevents (cid:498)substantial work(cid:499) for at least (cid:883) year: disability benefits for the physically or mentally impaired. Small payment to defray funeral costs (: disability and survivor benefits, survivor"s benefits, continuing monthly payments to spouse, children (with restrictions, employer contributions. )n some plans, the employer can (cid:498)match(cid:499) the contributions: traditional includes information stated above. Safe harbor allows small business owners (few employees) to skirt specific. Internal revenue service test; contribution must be same % of salary for everyone out, if not they will start deferrals at given rate (portable) immediately. Plans for small businesses and self-employed allowed for participants 50 and older: 403(b) for people who work for a government agency or non-profit, keogh plan annual contribution of a fixed percentage of business profit. Simplified pension plan (sep-ira) no or few employees, contributions are tax-deductible and earnings are tax-deferred: personal savings contributions.