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What retirement plan options are avaliable? It is always your responsibility to learn about the basic and supplemental (voluntary) plans an employer may offer. There are noncontributory and contributory persion plans, which stipulate vesting requirements. Within these types, there is either a defined contribution plan or a defined benefit plan. Many employers also offer supplemental or voluntary programs such as profit-sharing, thrift and savings, and 401(k).plans. Consider a dialogue between Felix and Janet, both new employees at o big fortune so0 compary. Both had taken a personal finance class in college severai vears ago, Todav, they are reviewing their notes from the recent newiemployee benefits meeting and helping each other complete the notes therve taken. FELX: 1 heard the Hat manager say that the cempany uses the diff vesting schedule. I'm not sure what that means. JANET: I remember this from personal finance class. Cliff vesting requires vesting over years. FELIX: What's the other option? JANET The graded schedule, Craded schedule astumes that vesting is over years: recxX: Did you understand everything about the pension plans? Could you help me there? BANErt Surel A pension plan is a. is much ptan, which means that the centribution cost . In addition, it is a defined have to contribute. plan, which means that the plan states how FuxXy I heard the HR manager say that they offer two supplemental plans, but I ondy wrote donn the profit-sharing plan. Under this type of plan, your account on the company's pertormance. This is because when profits are low, the company JANET: The graded schedule. Graded schedule assumes that vesting is over years. FELIX: Did you understand everything about the pension plans? Could you help me there? JANET: Surel A pension plan is a is much plan, which means that the contribution cost . In addition, it is a defined plan, which means that the plan states how FELIX: I heard the HR manager say that they offer two supplemental plans, but t only wrote down the profit-sharing plan. Under this type of plan, your account makes have to contribute. on the company's performance. This is because when profits are low, the company contributions to the plan, and when profits are high, it pays maxmum amounts to be paid as contributions. What is the other plan? . However, employers minimum and JANET: The other plan she mentioned is FELIX: Because our employer is a big Fortune 500 company, our plan is voluntary, It takes everyone's in company stock. 3ANET: Well, I think I have my notes complete. I may need to clarify a few things that will apply just to me, vesting, profit-sharing percentages, and retirement age. FEuXt Agreed, Thanks for helping me complete my notes! What retirement plan options are avaliable? It is always your responsibility to learn about the basic and supplemental (voluntary) plans an employer may offer. There are noncontributory and contributory persion plans, which stipulate vesting requirements. Within these types, there is either a defined contribution plan or a defined benefit plan. Many employers also offer supplemental or voluntary programs such as profit-sharing, thrift and savings, and 401(k).plans. Consider a dialogue between Felix and Janet, both new employees at o big fortune so0 compary. Both had taken a personal finance class in college severai vears ago, Todav, they are reviewing their notes from the recent newiemployee benefits meeting and helping each other complete the notes therve taken. FELX: 1 heard the Hat manager say that the cempany uses the diff vesting schedule. I'm not sure what that means. JANET: I remember this from personal finance class. Cliff vesting requires vesting over years. FELIX: What's the other option? JANET The graded schedule, Craded schedule astumes that vesting is over years: recxX: Did you understand everything about the pension plans? Could you help me there? BANErt Surel A pension plan is a. is much ptan, which means that the centribution cost . In addition, it is a defined have to contribute. plan, which means that the plan states how FuxXy I heard the HR manager say that they offer two supplemental plans, but I ondy wrote donn the profit-sharing plan. Under this type of plan, your account on the company's pertormance. This is because when profits are low, the company JANET: The graded schedule. Graded schedule assumes that vesting is over years. FELIX: Did you understand everything about the pension plans? Could you help me there? JANET: Surel A pension plan is a is much plan, which means that the contribution cost . In addition, it is a defined plan, which means that the plan states how FELIX: I heard the HR manager say that they offer two supplemental plans, but t only wrote down the profit-sharing plan. Under this type of plan, your account makes have to contribute. on the company's performance. This is because when profits are low, the company contributions to the plan, and when profits are high, it pays maxmum amounts to be paid as contributions. What is the other plan? . However, employers minimum and JANET: The other plan she mentioned is FELIX: Because our employer is a big Fortune 500 company, our plan is voluntary, It takes everyone's in company stock. 3ANET: Well, I think I have my notes complete. I may need to clarify a few things that will apply just to me, vesting, profit-sharing percentages, and retirement age. FEuXt Agreed, Thanks for helping me complete my notes