ACTIVITY 1 Read and review Chapter 11 to find the key terms needed to complete the following sentence Enter those terms in the highlighted blanks. 1. A is a retirement plan, sometimes called a pension plan, funded the employer, who promises the employee a specific benefit upon retirement. 2. Under plans, each employee has a retirement account, and both 1 employee and the employer may contribute to the account. 3. The advantages of a and the tax benefit plan for the employee are the plan's flexibility and portability 4. The federal government offers a mandatory retirement plan for all citizens except fedei government employees and railroad workers, known as 5. The IRA is an account funded by tax-deductible and/or nondeductible contributions. 6. For the IRA contributions are not tax deductible, but withdrawals are not taxed. 7. A is a distribution of cash from one retirement fund to another. 8. A (SEP) is a plan that allows an employer with few or even no other employees than himself or herself to contribute deductible retirement contributions to an employee's Traditional IRA. is the legal process of validating a will and administering the payment of de and the distribution of assets by a probate court. 10. A will should name an the person or persons who will administer the paym of your debts and the distribution of your remaining assets, according to your wishes expressed in your will. 11. You may create a will with instructions for your care in the event that you will become mentally or physically disabled before you die and unable to direct managem of your assets. 12. If you appoint someone , you have given them the right to act or your behalf, especially as regards financial and legal decisions