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Pension Plans

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What are defined benefit and defined contribution pension plans and do companies regularly do a lot of switching between the two plans and if so why?

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401(K) plan (like 403(b) plans, employee stock ownership plans and profit sharing plans) is a defined contribution plan. A defined contribution plan provides an individual account for each participant. The benefits are based on the amount contributed and are also affected by income, expenses, gains and loses.

A defined benefit plan (pension plan) promises the participant a specific monthly benefit at retirement and may state this as an exact dollar ...

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Retirement Plan Proposal and Communication Plan

Retirement Plan Proposal and Communication Plan

I really need help developing this proposal. I don't have much experience with proposals.

You are an HR leader in a newly formed organization with 150 employees. Management has asked you to provide them with a proposal that describes two to three retirement plans that could be offered. In the proposal, you must identify specific requirements of the Employee Retirement Income Security Act of 1974 the organization would need to fulfill.

In addition to the proposal, management has asked you to design a communication plan that encourages employee participation for one of the proposed retirement plans.

Prepare a proposal and communication plan. In your communication plan, include components that encourage participation in the retirement plan. Answer the following questions:
o How will you communicate information to employees?
o How often will you communicate information to employees?
o What tools or methods will you use to communicate the plan?
o How will you overcome resistance to participation?
o How will you get employees to enroll?
o How will you communicate the plan to make it attractive?

The response addresses the queries posted in 1854 words with 5 references.

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