HRM 324 Retirement Plan Selection Paper
A new employee, with spouse and two children, joins your company at age 24 making $40,000 per year. Currently, banks are paying 5% interest on saving accounts, and the rate of return on the company stock is 4% per year. During benefits enrollment, the employee stated that she would like to retire at age 60 with $3 million in her retirement account. Your organization has a cafeteria style Benefit plan.
Compare the following retirement options for this particular employee in 800 to 1,200 words: (a matrix would work well here- apiw1000w).
401(k) – Defined Contribution (+50% matching)
Pension – Defined Benefit
Company stock plan (ESOP)
Determine which retirement option(s) you would choose if you were this employee.
Assess the factors this employee should consider when selecting a retirement plan.
PLACE THE ORDER WITH US TODAY AND GET A PERFECT SCORE!!!
error: Content is protected !!