401(k)

Pensions allow people to live independently even after they have finished their service for a company. Defined benefit plans, defined contribution plans, and hybrid plans are found throughout many businesses as the designated retirement plans. Defined contribution plans have fixed contributions by the employee, but the employer can contribute as well. There is no precise benefit at the end of retirement, and these plans are not insured. Employers generally like these plans because there is less risk and cost to the employer. Typical defined contribution plans include: 401(k) plans, profit sharing plans, employee stock bonus plans, money purchase plans, SEP, and TSP. A 401(k) plan allows employees to have a portion of their pay, with an employer matching the amount to be contributed at times. A profit-sharing plan is a retirement plan that is based on annual profits from the previous year with the employer providing, often irregular contributions. A money purchase plans requires the employer contributions, regardless of the employer’s profits, and the employee may contribute to this plan. An ESOP provides shares of stock, or money to buy the stock of the company to participating employees. A SEP allows the employer to make contributions to individual retirement accounts (IRAs) for each employee, and the amount can vary year to year. A TSP is a pension plan designed…

interest of the client, by recommending the best investments at the lowest prices. Implementation of the new rule is set out to prevent the $17 billion a year in government claims by reducing the exorbitant fees associated with financial planners. However, this has caused a major disruption to all financial advisors and how they operate (currently) under less stringent standard that requires investment advice to be “suitable”. These Independent broker-dealers face the greatest disruption due to…

The 401(k) Temptation and Trap The 401(k) is a retirement plan established in 1978 to help workers whose companies no longer offered pensions. The idea was that workers could draw monthly allotments from the amount saved once they reached retirement age. The temptation for many people who are struggling to accumulate a savings account is to view the money sitting in a 401(k) as a "honey pot". While the IRS does have a number of provisions that allow a person to give into their temptations…

How to save money for your retirement without a 401k There are alternatives to a 401k that has tax advantages. When considering saving for retirement, most people will receive the advice to acquire a 401k. But many individuals do not have access to a 401k through their workplace. The statistics for those that do not have access is around 31% of the workforce. It is still possible to save for retirement if you are among those workers that do not have access to the 401 k retirement plan.…

No kid ever wants to work in fast food. So, when I turned sixteen I promised myself I would never work in a stinky, smelly, fast food joint. So I applied at every “cool” retail shop in the mall. I got one call back but didn’t end up making the cut. Sadly, my worst nightmare came true I had to take the plunge and apply at fast food restaurants. A few days later, I received a call from McDonald’s wanting to set up an interview. I went in for the interview a few days later, and was offered the job…

What is a 401k plan? Almost all employers will give a retirement savings plan for their employees. Under these plans, also called contribution plans, you may be able to save money toward your retirement along with a tax deferred basis, which means that you won't have to pay federal or state income taxes on your savings or their investment earnings until you withdraw your money during retirement. The most well known types of employer sponsored retirement savings plans are called 401k, 403b or 457…

Albatross Anchors is a major manufacturer, they manufacture two different types of anchors and have continued to grow since they started with just 4 family members in 1976. The plant overall is outdated and technology deprived. The administrative offices are dilapidated, disorganized, and run inefficiently. The plant is obsolete, worn dirty, and no longer meets all US safety and environmental standards. The company is in need of many required changes so they can be more productive and have…

Everyone knows someone who is retirement age of 65 or older, they may even be a grandparent or a close family friend. A majority of these people have worked very(exceptionally) hard and deserve what they have (been working for when retirement years begin.) waiting for them when they retire. While most people who reach the age of 65 are ready to settle down, some of them just simply can’t save(due to their inability to practice saving habits in their early life) because of their savings habits…

Entering in the 21st century, K-pop took not only the country, but the world by storm—a phenomenon also known as the “Hallyu Wave”. International success of the industry led to the emergence of giant entertainment corporations. Companies like SM, YG, JYP, Cube are known as entertainment factories that create, perfect, and toss out boy bands and girl groups. But the sudden influx of groups inevitably leads to competition. The industry has turned into an arena that hosts a game of who can whip out…

Today, my topic is about Korean drama. Korean drama is very popular in the world, especially in Asia. l am very interested in this phenomenon. According to my research, it can be divided into three types------middle-aged women, teenagers and sociologists. The first type is middle-aged women. Middle-aged women like to watch Korean drama. We should analyze the common characteristics in this age. Middle-aged women’s ages are between 35 to 55, and this type can continue to be divided into two…