Retirement and Benefit Planning

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avanyf

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Description

Write a 750- to 1,050-word paper on the following scenario:

Jonathan owns and operates a deli restaurant in New York City. It is a family business and all of the employees are family members. Jonathan wants to establish a retirement plan so he can save for retirement and the retirement of his employees on a tax deferred basis. Jonathan only wants to contribute to the plan when the business makes a profit. He is happy to contribute on behalf of his employees if the business is doing well. He wants to limit administrative fees. You have been hired to recommend a plan for Jonathan.

Complete the following:

  • Apply the financial planning concepts we have learned in this course to guide Jonathan on the fiscal planning he must do to determine when it would be appropriate to make retirement contributions for himself and his employees.
  • Evaluate the different retirement plans available to Jonathan and recommend appropriate choices.
  • Examine the risks associated with your recommendation and the ways Jonathan can mitigate these.

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Explanation & Answer

Attached.

Running head: RETIREMENT AND BENEFIT PLANS

1

Retirement and Benefit Plans
Institution Affiliation:
Date:

RETIREMENT AND BENEFIT PLANS

2

Financial planning is very important for Jonathan in the decision-making process to
determine the most appropriate time to contribute for the retirement for him and his employees.
Johnathan runs a family based business when all his employees are his family members. It is
important to have a retirement plan to take care of him and his family during his old age.
Jonathan should design a way to accumulate the retirement capital for the future. However,
funding the retirement plan is put in question in this case. Jonathan brings the idea of unstable
business which should provide the fund for the retirement plan.
Jonathan should consider one thing at a time in making the plan work. Basically, this is
not the right time to implement this plan. Jonathan should focus on making moving his business
to the next financial level. This will help the restaurant make a profit in a consistent w...


Anonymous
I was struggling with this subject, and this helped me a ton!

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