Describe types of plan features (i.e. vesting, eligibility, entry dates, retirement dates, etc.) and estimate whether or not these features are valuable.
- Analyze the fees associated with the plan, and explain how are they paid.
- What investments are available?
- What other features and opportunities does the plan provide?
- Choose one plan that you would like to further analyze over the next few weeks. Briefly address the strengths and shortcomings of this plan. (If you are creating a spreadsheet, complete this portion by submitting a 90 to 175 word summary).
here is what my team mate has said about his retirement plan (not sure of his job for he didn’t state)
The information I have for my retirement plan is a government pension plan. Vesting is 100 percent after 48 months. Only full time employees are eligible and the entry date starts after a 6 month probationary period. The retirement dates are age 60 or age plus years of service equal to 85. The pension is portable and fees are taken out pre-tax and 100 percent match by employer up to the maximum which I still need to figure out. The investment is fixed in a system with thousands of other government employees. The rate of return is 9.17 percent while the employer cost is 11.39 percent and the employee cost is 9.12 percent.
and here what i said about mine I work at Walmart
have a 401(k) plan via my workplace(retail industry). It’s a profit-sharing, 401k, and ESOP-style defined contribution plan with a profit-sharing component. The BrightScope Rating for this design is 57. In terms of Total Plan Cost, this plan is in the top 15% of all plans. There are presently approximately 1,655,000 active members in the 401k Plan, with over $30.2 billion in plan assets. Both the money you put into your 401(k) account and the money you put into your Company Match account is instantly vested in you.
https://retirement.wyo.gov/-/media/Documents/Actua…
here is the link from my team mate
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