Individual Retirement Account

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  • Los Angeles Fulfillment Operations Report

    At Bank of America, I was an Operations Team Lead for the Los Angeles Fulfillment Operations department. We fulfilled statements, items and research inquires for our customers. Our customers included internal associates, consumers, and legal and government entities. This involved working with many bank products such as, checking, savings, certificate of deposits, individual retirement accounts, brokerage accounts and credit cards accounts. With a team of twenty-five associates, we would fulfill an average of three thousand request, which would generate approximately thirty thousand deliverables. Fulfillment Operation would extensively use planning, organization, leading and controlling in its operations. Much of the fulfillment would be processed through our automated channel if there were no issues involved. When we would get these exceptions, we would push these requests to our manual workflow. Our associates would quality check the work to verify all documents were generated and we would prevent privacy breaches. The department operated with a service level agreement (SLA) of one day. We would emphasize our ultimate goal in our planning stage. The main goal for Fulfillment Operations was to meet our one-day service level agreement and utilize capacity effectively. We would do this by assigning volumes appropriately…

    Words: 1507 - Pages: 7
  • Inflation Rates In Retirement Research

    One important issue that Millennials overlook when saving for retirement are inflation rates. When saving in retirement accounts, it is best to know that inflation will affect present dollars put into the account in the future. Inflation rates reduce purchasing power and the interest rate in your savings account will likely be below the rate of inflation. The rate of inflation is increasing more than the amount of the savings account. Also, budgets are important to help Millennials have enough…

    Words: 724 - Pages: 3
  • Theory Of Work Adjustment: Summary Of Career Theory (TWA)

    needs, such as social acceptance” (Hagler & Plessman, 2015, 187). An individual will go to work and earn a paycheck that will be enough to satisfy their personal needs and by doing so will also be socially accepted by their co-workers and family. On the other hand, the workplace will hire workers based on three distinct traits, the employees’ skills, aptitudes and personality (Hagler & Plessman, 2015). Workers select jobs because of their perception that the job will satisfy their needs, and…

    Words: 1040 - Pages: 5
  • Hidden Socioeconomic Rules

    Nearly everything I do is with the future in mind. I am frequently thinking of how my present actions will benefit me, my fellow man, and/or some worthy cause. One good example occurred about a year ago when I started preparing for the latter portion of my life. I was speaking with my financial advisor at Edward Jones about what wise investments I should be making financially in the present. She spoke of how starting a Roth IRA (individual retirement account) would benefit me immensely in the…

    Words: 1335 - Pages: 6
  • The Pros And Cons Of The Social Security Act

    When Roosevelt signed the Social Security Act in 1935, it was designed as a safety net and was intended to protect American workers upon retirement, disability or in the event of an early death. This program is the largest government program in the world and uses a pay-as-you-go system where workers contribute 6.2% of their salaries into the plan and come time to give up work, and they will be eligible to receive a limited monthly income to assist them during retirement. In other words, the…

    Words: 1327 - Pages: 6
  • Wall Street Journal: Assignment: Defined Contribution Plans

    types of retirement plans available: 1) defined benefit plans, and 2) defined contribution plans. Briefly describe the two types of plans; include at least three features of each. (Not defined in book, look elsewhere) a. Defined benefit plans: b. Defined contributions plans: 2. Most retirement plans today are of the defined contribution variety. An example is a 401(k) plan. Suppose your first employer after graduation from college offers a 401(k) plan and that you make…

    Words: 603 - Pages: 3
  • Social Security Privatization Research Paper

    investing money into personal accounts, stocks or bonds. Privatization is a costly, complicated, and undependable system that won’t be efficient. The fluctuating stock market, significant cost of preserving personal accounts, and reductions in social security benefits make privatization problematical.…

    Words: 805 - Pages: 4
  • Gerontology: A Multidisciplinary Study Of Aging

    It is important to study gerontology because it makes us understand the older adults better and to appreciate the subject of aging studies/gerontology in general, there must be a commitment to create a multidisciplinary overview for all to understand the aging process across diverse groups of individuals (taking into account race, ethnicity, socio-economic status, gender, etc.). Studying gerontology also teaches us the areas pertinent to the well-being of the adult population such as work and…

    Words: 1303 - Pages: 6
  • Case Study Paul Dulderon's Retirement Plan

    I. QUESTION PRESENTED Should Mr. Dutton designate his spouse or the Paul Dutton 2013 Trust as the designated beneficiary of his retirement plan? II. SHORT ANSWER Mr. Dutton should designate his spouse as the sole beneficiary of his retirement plan because this will provide the maximum amount of income tax deferral and flexibility in distribution but lead to no additional restrictions on the use of the funds. This will also avoid the high income tax rate imposed on trust. III. STATEMENT OF…

    Words: 772 - Pages: 4
  • Jack Wilson Life Insurance Case Study

    purchased if the goals will not be met. We calculated the amount of life insurance that will be needed if the worst case scenario were to happen. The worst case timing for Jack to die would be right after retirement. If he passed away before taking TRS it could be switched to his wife and she would receive the full benefit instead of only receiving 75% of his pension. We also assumed that the living expenses would be reduced to 75% of what the current…

    Words: 1541 - Pages: 6
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