Retirement Plan

Philpot Chemicals is contemplating the introduction of a retirement plan. The company has been in business for six years, has 250 employees, and has found a market niche that promises to provide them with great opportunities for growth over the next several years. They have developed an average benefits package for a firm of their size, but know that having a retirement plan would complete their benefit offerings and help them to attract new talent. The Executive Committee assigned with the task has been discussing the advantages and disadvantages of several types of retirement plans. They have asked you to assist them in making a final decision. Discuss in detail the following questions.

Your Activity responses should be both grammatically and mechanically correct, and formatted in the same fashion as the Activity itself. If there is a Part A, your response should identify a Part A, etc. In addition, you must appropriately cite all resources used in your response and document them in a bibliography using APA style. (A 4-page response is required.)

 

Part A

 

When deciding on whether to utilize a defined benefit versus a defined contribution plan, Philpot should consider what factors? What would your recommendation be?

 

Part B

 

If a defined contribution plan is considered the most appropriate form of retirement benefit, what considerations would determine whether to offer a Profit Sharing Plan, a Money Purchase Pension Plan, or a Target Benefit Pension Plan? (30 points)

 

Part C

 

Philpot is leaning towards a 401(k) plan. Go to the Internet and research how other companies are designing their programs and then make your recommendations to Philpot on the provisions you would suggest they incorporate into the plan. At a minimum, you need to cover Eligibility, contributions, vesting, investment options, loans, and hardship withdrawal provisions. Include a bibliography page using APA style).

Sample Solution

rket of potential citizens was never seen until this political race, and this will be vital for them in the impending political race. Youthful citizens could be the possible distinct advantage for them by and by. In 2015, not exclusively did the party move from third to first, it was undeniably less financed then there Conservative contenders. (Pammett, J. H., and Dornan, C, 2016, pg. 62) This has forever been an issue for the nonconformists and will be a danger heading into the following political race. The party has been delayed to dominate standard mail records and acquiring bunch benefactors. (Pammett, J. H., and Dornan, C, 2016, pg. 62) In 2004, Jean Chretien carried out regulation that disposed of corporate and association gifts, which hurt the NDP and Liberals raising support capacities. (Pammett, J. H., and Dornan, C, 2016, pg. 62) For instance, in 2011, in the last quarter the preservationists raised 4.1 million though the nonconformists had raised 2.8 million. (Pammett, J. H., and Dornan, C, 2016, pg. 62) The dissidents have improved in late year far out gathering pledges the NDP, but the Conservatives actually stay a danger. Over and over the preservationists continually out raise money the dissidents. One more model in 2015 in the primary quarter, the preservationists raised 6.3 million to the dissidents 3.8 million. (Pammett, J. H., and Dornan, C, 2016, pg. 63) Conservatives, and their capacity to gather pledges better compared to the Liberals, is the best danger the Liberal party faces. One more strength for the Liberals is their noteworthy rundown of applicants also the variety of orientation and identity inside that rundown. As expressed previously, in the last political decision, the liberal party set another norm of inclusivity with 10 native MPs and six LGBT MPs, they host been the most comprehensive get-together yet. (Schwartz, D, 2015) An aggregate of 21 competitors distinguished as LGBTQ. (Schwartz, D, 2015) The variety in competitors can assist with contacting a more extensive crowd of citizens and ensure that everybody feels they are being addressed in government. One of the significant shortcomings in the Liberals ridings are the West. The Liberals have consistently improved in the East and Central Canada. Canada’s two biggest areas as far as populace and citizens are Ontario and Quebec. With a foundation based out of Quebec, the party has done best here all of the time. Nonetheless, the West has gotten a handle on all of the time of the circle and tossed to the side with the Liberal party. There worries are not heard as well as those in Central Canada. There is a feeling of distance from the government go

This question has been answered.

Get Answer
WeCreativez WhatsApp Support
Our customer support team is here to answer your questions. Ask us anything!
👋 Hi, Welcome to Compliant Papers.