Characterize potential sources of income avallable for retirement years by addressing the following:

a$.$ Pension Plan: describe the difference between a Defined.Benefit and a DefinedContribution plan. Indicate how each provides income for retirement and how each are funded $($i$.$e$.$ employee, employer, or both$).$ If you were looking for a job, which plan do you belleve would be offered by your future employer $($if any$)?$ Explain why or why not.

b$.$ Supplemental Plan: describe the purpose of this type of plan. Indicate how it provides income for retirement and how each are funded $($i$.$e$.$ employee, employer, or both$).$ If you were looking for a job, which of the three types of supplemental plans covered in this module would you prefer be offered by your future employer $($if any$)?$ Explain why or why not.

c$.$ Individual Retirement Account $($IRA$)$: describe the difference between a Traditional and a Roth IRA. Indicate how each provide income for retirement and how each are funded $($i$.$e$.$ employee, employer, or both$).$ If you were planning on opening an IRA, indicate which type that you would select and provide your rationale.

d$.$ Annuity: describe the purpose of this type of plan, including the difference between the accumulation period and the distribution period. Indicate how it provides income for retirement and how it is funded. Assume that you are looking to purchase an annuity for your retirement, review the types of annuities discussed in the chapter, make a selection, and support your decision.