Question

^{Amy is looking to contribute $1,200 per month into her
Defined-Contribution Pension Plan (DCPP) with her employer who is
providing a 50% match. Her and the employer will make the
contributions at the end of each month for the next 10 years. Using
a 5%, compounded monthly rate, what will be the value of both the
employee and employer contributions at Amy's retirement in 10
years?
$288,987}

^{$279,508}

^{$253,198}

^{$253,723}

Answer #1

Which of the following is true about a defined contribution
pension plan?
a)
the employer bears the investment risks of the pension
plan;
b)
the employee bears the investment risks of the pension
plan;
c)
the employer must ensure there are sufficient assets in the
plan;
d)
the employee must ensure there are sufficient liabilities in
the plan;
e)
the employer must report the funded status to the public of the
plans of all employees.

Sandra is going to contribute $560 on the first of each month,
starting one month from today, to her retirement account. Her
employer will provide a 50 percent match. In other words, her
employer will add $280 to the amount Sandra saves. If both Sandra
and her employer continue to do this and she can earn a rate of 9.0
percent, how much will she have in her retirement account 30 years
from today?
A.
$1,215,382
B.
$1,537,825
C.
$761,172...

Your organization currently has a defined contribution pension
plan with employees contributing up to 3% with a company match.
Effective with the first pay of the new year, new employees will no
longer be enrolled in that plan. Instead, they will be enrolled in
the new Group Registered Retirement Savings Plan (RRSP) with the
same contribution options. In your own words, explain the
difference in the T4 information slip reporting for these two
groups of employees.

Assume that you contribute $150 per month to a retirement plan
for 10 years. Then you are able to increase the contribution to
$300 per month for another 10 years. Given an 8.0 percent interest
rate, what is the value of your retirement plan after the 20
years?

Prof. Business realizes she is entering the last third of her
career and is considering retirement in 12 years. She is in a
self-managed defined contribution pension plan and through
automatic payroll deduction and University matching both based on
mandated percentages of her salary $1250/month is currently
deposited into her pension plan. Due to the lack of recent raises
at her public university, she doesnâ€™t plan on these monthly
contributions increasing much if any over the next 12 years.
Prof....

Mai Lee has contributed $150 at the end of each month into her
company's employee retirement account for the past 10 years. Her
employer has matched her contribution each month. If the account
has earned interest at the rate of 2%/year compounded monthly over
the 10-year period, determine how much Mai Lee now has in her
retirement account. (Round your answer to the nearest cent.)

Which of the following statements about types of retirement
plans are true?
I. Under a defined benefit retirement plan, employers promise to
make a stated amount of annual contributions to individual accounts
established for each employee, and the employee receives the full
value of the account upon retirement.
II. Under a defined contribution retirement plan, the employee
agrees to purchase a set percentage of employer stock during his
working years in order to fund his own retirement. Select one:
a....

Starting today, you are going to contribute $330 on the first of
each month to your retirement account. Your employer will
contribute an additional 50% of the amount you contribute. If both
you and your employer continue to do this and you can earn an
effective monthly rate of 0.88%, how much will you have in your
retirement account 48 years from now?
7,890,246
$8,109,420
$8,328,593
$8,547,767
$8,766,940

Assume that you contribute $360 per month to a retirement plan
for 15 years. Then you are able to increase the contribution to
$720 per month for another 25 years. Given a 6.0 percent interest
rate, what is the value of your retirement plan after the 40 years?
(Do not round intermediate calculations and round your
final answer to 2 decimal places.)

Starting today, you are going to contribute $150 on the first of
each month to your retirement account. Your employer will
contribute an additional 50% of the amount you contribute. If both
you and your employer continue to do this and you can earn an
effective monthly rate of 0.52%, how much will you have in your
retirement account 30 years from now?
Question 6 options:
$237,906
$243,854
$249,801
$255,749
$261,697

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 9 minutes ago

asked 26 minutes ago

asked 26 minutes ago

asked 41 minutes ago

asked 57 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 2 hours ago

asked 2 hours ago

asked 2 hours ago