Types of pension plans - Study guides, Class notes & Summaries

Types of Employee Benefits - ANSWER--medical expenses - loss of income due to... a) death b) disability c) unemployment d) retirement medical expenses - ANSWER--health insurance - FSAs/HSAs- pre tax health savings accounts -worker's comp loss of income due to death - ANSWER-(not generating any more income) -life insurance (UGA pays for $25K) -survivor benefits under retirement plans options: a) can inherit 401(k) assets b) continue pension payments to surviving spouse ...

CFP Exam 2024 | 665 QUESTIONS| WITH COMPLETE SOLUTIONS GRADED A+. CFP Standards of Conduct Sections (6) Correct Answer: A. Duties owed to clients. B. Fin. Planning and Application of Practice Standards C. Practice Standards for Fin. Planning Process D. Duties owed to firms/subordinates E. Duties owed to CFP Board F. Prohibition on Circumvention Section A of CFP Standards of Conduct Correct Answer: Duties owed to Client: 1. Fiduciary Duty 2. Integrity 3. Competence 4. Diligence 5. Dis...

ERISA Exam Questions & Answers 2023/2024 What does ERISA stand for? - ANSWER-Employee Retirement Income Security Act (enacted 1974) What was the purpose for enacting ERISA? - ANSWER-To protect the assets of millions of Americans so that funds placed in retirement plans during their working lives will be there when they retire. ERISA is a federal law that does what? - ANSWER-Sets minimum standards for pension plans in private industry. ***What are the types of things that ERISA requ...

Types of income 1. Employment (taxed on gross receipt basis) 2. Capital/Property Income (stocks, bonds, mutual funds.. dividends and interest) 3. Business Income (from rendered services) 4. Capital gains and losses Calculating Income Tax Payable On first 43,561 x 15% On portion over 43,561 and up to 87,123 x 22% On portion over 87,123 and up to 135,054 x 26% On portion 135,054 x 29% This is what is considered a Marginal Tax Rate (Tax paid on any additional dollars of taxable in...

BTEC FINANCE Level 3 - Unit 3 Finance Exam Questions and Answers (Graded A+) what are the advantages of travel insurance? - ANSWER good for emergencies (can get booking costs back if your flights are cancelled), if you contract a disease your travel insurance will cover treatment costs that your medical insurance might not, may policies provide coverage for lost, stolen or damaged luggage what are the advantages of pet insurance? - ANSWER can cover unexpected vet bills, provides peace of mi...

CEBS GBA 1: Assignment 1 Latest Update with Verified Solutions Broadview of employee benefits any form of compensation other than dirext wages paid to employees. includes gov required benefits and private plans. employers share of soc security tax, paid vacation and pension plans. narrow view of employee benefits any type of plan sponsored or initiated unilaterally or jointly by employers and employees engaged in provideng benefits that result from the employment relationship that are not under...

CEBS: GBA 1, Module 1 (2023/2024) 100% Pass Employee Benefits All forms of financial returns and tangible services and benefits employees receive as apart of an employee relationship Broad View of Employee Benefits Virtually any form of compensation other than direct wages, including: 1. Employer's share of legally required payments (Social security and medicare, unemployment insurance and worker's compensation benefits) 2. Payment for time not worked (paid rest periods, paid sick leave, paid...

Types of Employee Benefits - ANSWER--medical expenses - loss of income due to... a) death b) disability c) unemployment d) retirement medical expenses - ANSWER--health insurance - FSAs/HSAs- pre tax health savings accounts -worker's comp loss of income due to death - ANSWER-(not generating any more income) -life insurance (UGA pays for $25K) -survivor benefits under retirement plans options: a) can inherit 401(k) assets b) continue pension payments to surviving spouse ...

Segregated Funds & Annuities Mock Exam with complete solutions Group Registered Retirement Savings Plan (GRRSP) -Correct Answer-GRRSPs offer investors a limited variety of investment choices, but they have lower fees compared with individual RRSPs. Cancellation of Segregated Fund Contract -Correct Answer-An investor may cancel or rescind the segregated fund contract in writing within the specific time limitation set by the insurer providing the contract. Two days is the usual length of tim...

Broadbanding - The practice of using fewer pay grades with much broader ranges than in traditional compensation systems. Main advantage is more consistent with flattening of organizational levels and growing jobs that are multidimensional. Problem is employees expect a promotion to come with a pay raise and movement to a new pay. By not having this employees will feel there is no room for promotion opportunities. Most companies use traditional pay grades. Coaches - Observe and feedback is g...