Personal Finance Week 11 Retirement and Estate

What is the company-established benefits plan where employees acquire stock, often at below-market prices, as part of their benefits? (Z.G.)

• Employee Stock Ownership Plan

• Savings Incentive Match Plan for Employees

• Roth IRA

• Deferred Annuity

In the context of this chapter, what does vesting refer to? (Z.G.)

• An employee's right to at least a portion of the benefits accrued under an employer pension plan, even if the employee leaves the company before retiring

• A benefit whereby employees may share in the profits of the business

• The process of giving up your right to the benefits accrued under an employer pension plan.

• An annuity in which the annuitant begins receiving monthly benefits immediately

How many kinds of wills are there listed in the book?

(P.I.E.)

• 1

• 2

• 3

• 4

Tags

CCSS.RI.11-12.9

CCSS.RI.9-10.9

CCSS.RI.K.6

CCSS.RL.11-12.9

CCSS.RL.9-10.9

What does per capita mean?

(P.I.E.)

• Per family

• Per person

• Per city

• Per state

Tags

CCSS.RI.8.7

CCSS.RI.9-10.7

CCSS.RL.11-12.7

CCSS.RL.8.7

CCSS.RL.9-10.7

What is the purpose of of The Pension Benefit Guaranty Corporation (PBGC)? R

• To make sure an employee gets full benefits after retiring.

• To set up a schedule of investing money towards a pension plan

• To keep the government from taxing to much pension income.

• To insure defined benefit plans in case a company goes bankrupt.

Which of the following are type of annuities?(Multiple Answers) R

• Fixed annuity

• Interval annuity

• Variable annuity

• Deferred annuity

• Immediate annuity

Tags

CCSS.HSA.SSE.B.4

What does ERISA stand for?

• Employee Retirement Income Security Act

• Evasive Retirement Internet Sociability Act

• Employee Rendering Interactive Sociable Act

• Empowerment Retiree Income Security Act

Which of these wills leaves everything to the spouse?

• Exemption Trust Will

• Traditional Marital Share Will

• Simple Will

• Stated Dollar Amount Will

S-How many rollovers from the same IRA can an investor generally make in one year?

• 12

• 1

• 5

• 2

S-What benefits does an annuity provide?

• Unlimited contributions

• A cost of living (COLA)

• Control over when the individual pays taxes by timing distributions

• Option of guaranteed income for life