HRM324 Phoenix Human Resources Retirement Plan Selection Assignment

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HRM324

University of Phoenix

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Retirement Plan Selection

A new employee 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 dollars in her retirement account.

Compare the following retirement options for this particular employee in a no more than 3.5 page paper:

  • 403B
  • 401K
  • Pension
  • Annuities
  • IRA
  • Estate planning

Determine which retirement option(s) you would choose if you were this employee.

Assess the factors that this employee should consider when selecting a retirement plan.

Draw conclusions based upon Assigned Learning Activity Readings in eCampus, Martocchio, J. (2017). Strategic compensation: A human resource management approach (9th ed.). Upper Saddle River, NJ: Pearson, personal experience, and data collected from organizations.

Integrate and apply readings, Martocchio, J. (2017). Strategic compensation: A human resource management approach (9th ed.). Upper Saddle River, NJ: Pearson.throughout paper. Summarize and cite information using your own words. Direct quotations should be avoided.

Research should be summarized and synthesized using your own words; be certain to cite sources of knowledge.

Compare your paper with Guide for Written Assignments attached to assignment.

Format your paper consistent with APA 6th Edition guidelines. APA sample is attached to assignment.

University of Phoenix Classroom user name: socrates2406 password: Socrates@#012406

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Retirement Plan Selection A new employee 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 dollars in her retirement account. Compare the following retirement options for this particular employee in a no more than 3.5 page paper: • • • • • • 403B 401K Pension Annuities IRA Estate planning Determine which retirement option(s) you would choose if you were this employee. Assess the factors that this employee should consider when selecting a retirement plan. Draw conclusions based upon Assigned Learning Activity Readings in eCampus, Martocchio, J. (2017). Strategic compensation: A human resource management approach (9th ed.). Upper Saddle River, NJ: Pearson, personal experience, and data collected from organizations. Integrate and apply readings, Martocchio, J. (2017). Strategic compensation: A human resource management approach (9th ed.). Upper Saddle River, NJ: Pearson.throughout paper. Summarize and cite information using your own words. Direct quotations should be avoided. Research should be summarized and synthesized using your own words; be certain to cite sources of knowledge. Compare your paper with Guide for Written Assignments attached to assignment. Format your paper consistent with APA 6th Edition guidelines. APA sample is attached to assignment.
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Explanation & Answer

Attached.

Retirement Plan Selection –Outline
Thesis Statement: The retirement benefits are important in focusing on the expectancy of where
the funds help in sustaining long life for an individual.
I.

Retirement Plan Selection and Consideration
A. Interest rates
B. Taxation
C. Attractiveness of the plan
D. Government restriction


Running head: RETIREMENT PLAN SELECTION

Retirement Plan Selection
Name
Institution

1

RETIREMENT PLAN SELECTION

2

Retirement Plan Selection
Retirement plans are important in focusing on the future life after employment and
making sure that there are structures that enhance the security of an individual in the future. The
patterns that exist help an individual in the expression of the choices that an individual chooses
from depending on the desires of an individual and the goals that they set for saving up for their
future. The retirement benefits are important in focusing on the expectancy of where the funds
help in sustaining long life for an individual.
Retirement Plan Selection and Consideration
Employee aged 24 years and makes $40,000 per year planning to retire at 60
403B Retirement Option
The plan is a defined plan where the employees that work for the government or in the
non- governmental institutions defer some of their payme...


Anonymous
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