Assignment:
Answer each question in 4 to 5 sentences.
Question 1. Define the purpose and function of a benefit plan.
Question 2. Define the purpose and function of a contribution plan.
Question 3. What does the term vesting mean? Why is vesting important?
Question 4. Compare and contrast the cash balance plan and the contribution plan.
Question 5. Explain the purpose and function of simplified employee pensions.
Question 6. If you had your choice, which type of pension plan would you select for yourself? Please provide your reasons.
Your answer must be in 2 to 3 pages, typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format.