Please complete the problems below, and submit your answers tothe Week 7 Dropbox. See the Syllabus section âDue Dates forAssignments & Examsâ for due date information. Please useproper spelling and grammar in your response.
Please choose one of the following (1, 2, or 3), and respond tothe questions.
For employees available to participate in a pensionplan
Does your employer offer a retirement plan at work? If so,answer the following.
What type of plan is it? Defined benefit or definedcontribution?*
If defined contribution, what type?
401(k)
403(b)
Employee stock ownership plan
Profit-sharing plan
Does your employer âmatchâ your contribution? If so, what is thematch?
What are the benefits to you (the employee) of participating inthis plan?
Are there limits to how much you can contribute to the plan?
Does it have a Roth feature?
What are the benefits to your employer for offering thisplan?
If you are not contributing, why?
* If you do not know the answer to these questions, then askyour HR or payroll department for the answers. Please do notguess.
For employees without a pension plan atwork
If your employer does not offer a retirement plan at work, thenemployees have some options for accumulating retirement savings ontheir own.
Discuss the nonemployer plan retirement saving opportunitiesavailable to an employee.
Are you currently contributing to a nonemployer plan?
If yes, what type?
What is the benefit to you as an employee for saving for yourretirement?
Are there limits to how much you can contribute to the plan?
If you are not contributing, why?
For the self-employed
Are you self-employed? If yes, address the following.
What retirement savings opportunities are available to theself-employed?
Are there limits to how much you can contribute to the plan?
Do you currently contribute to a self-employed plan?
If so, what kind?
What are the tax benefits to a self-employed person for makingcontributions?
If you are not contributing, why?
For the nonworking taxpayer
If you do not have a job and you are not self-employed, thenchoose one of the following.
Please address questions 1, 2, or 3 above based on an interviewyou have conducted with your spouse, and describe a spousalIRA.
If you are unmarried, please address questions 1, 2, or 3 abovebased on an interview with one of your parents.
If neither of the above options is possible for you, pleaseinterview a friend, and address questions 1, 2, or 3 above.
Please complete the problems below, and submit your answers tothe Week 7 Dropbox. See the Syllabus section âDue Dates forAssignments & Examsâ for due date information. Please useproper spelling and grammar in your response.
Please choose one of the following (1, 2, or 3), and respond tothe questions.
For employees available to participate in a pensionplan
Does your employer offer a retirement plan at work? If so,answer the following.
What type of plan is it? Defined benefit or definedcontribution?*
If defined contribution, what type?
401(k)
403(b)
Employee stock ownership plan
Profit-sharing plan
Does your employer âmatchâ your contribution? If so, what is thematch?
What are the benefits to you (the employee) of participating inthis plan?
Are there limits to how much you can contribute to the plan?
Does it have a Roth feature?
What are the benefits to your employer for offering thisplan?
If you are not contributing, why?
* If you do not know the answer to these questions, then askyour HR or payroll department for the answers. Please do notguess.
For employees without a pension plan atwork
If your employer does not offer a retirement plan at work, thenemployees have some options for accumulating retirement savings ontheir own.
Discuss the nonemployer plan retirement saving opportunitiesavailable to an employee.
Are you currently contributing to a nonemployer plan?
If yes, what type?
What is the benefit to you as an employee for saving for yourretirement?
Are there limits to how much you can contribute to the plan?
If you are not contributing, why?
For the self-employed
Are you self-employed? If yes, address the following.
What retirement savings opportunities are available to theself-employed?
Are there limits to how much you can contribute to the plan?
Do you currently contribute to a self-employed plan?
If so, what kind?
What are the tax benefits to a self-employed person for makingcontributions?
If you are not contributing, why?
For the nonworking taxpayer
If you do not have a job and you are not self-employed, thenchoose one of the following.
Please address questions 1, 2, or 3 above based on an interviewyou have conducted with your spouse, and describe a spousalIRA.
If you are unmarried, please address questions 1, 2, or 3 abovebased on an interview with one of your parents.
If neither of the above options is possible for you, pleaseinterview a friend, and address questions 1, 2, or 3 above.
