American Retirement Association

Question 1

________ is a retirement plan that combines Defined Contribution Plan and Defined Benefit pension plan.

Answer 1

Combo Plan

Question 2

Combo Plan

Answer 2

Combines Defined Contribution Plan and Defined Benefit pension plan.

Question 3

Both the employee and employer contribute to the employee’s account. The amount each contributes vary.

Answer 3

Defined Contribution Plan

Question 4

Employees benefit from having guaranteed retirement income coming in each month.

Answer 4

Defined Benefit Pension Plan

Question 5

Which plan has contributions that are kept in a single account and maximize retirement benefits?

Answer 5

Defined benefit pension plan

Question 6

Which plan favors long service, hard working partners/individuals?

Answer 6

Defined benefit plan

Question 7

What is Defined Benefit Pension Plan?

Answer 7

Employes have monthly source of income during retirement. This was pre-established when they were earning income.

Question 8

Who qualifies for a Combo Plan?

Answer 8

• A business owner that has a steady/increasing income in the past 5 years
• Employers want to reward employees and contribute money to their pension fund
• Seeking greater tax deductions (expenses that is not included in business taxes)

Question 9

What does ARA stand for?

Answer 9

American Retirement Association

Question 10

What’s the ARA’s member organizations?

Answer 10

PSCA, NAPA, NTSA, ASPPA, ASEA

Question 11

What’s the ARA’s member organizations?

Answer 11

PSCA, NAPA, NTSA, ASPPA, ASEA

Question 12

What does PSCA stand for?

Answer 12

Plan Sponsor Council of America

Question 13

What does NAPA stand for?

Answer 13

National Association of Plan advisors

Question 14

What does NTSA stand for?

Answer 14

National Tax-Deferred Savings Association

Question 15

What does ASPPA stand for?

Answer 15

American Society of Pension Professionals and Actuaries

Question 16

What does ASEA stand for?

Answer 16

American Society of Enrolled Actuaries

Question 17

Which organization educates retirement planners/people working in retirement plan industry?

Answer 17

ARA (American Retirement Association)

Question 18

Which is a nonprofit organization that creates a layout that helps Americans enjoy their retirement?

Answer 18

ARA (American Retirement Association)

Question 19

Member companies of PSCA include:

Answer 19

Horizon Bank, Microsoft, Disney

Question 20

Which helps over 6 million companies manage their worker’s retirement plans?

Answer 20

PSCA (Plan sponsor council of America)

Question 21

What are NAPA’s goals:

Answer 21

-issues regarding to retirement plan advisors
-commit to making a governed retirement system
-Hope to create a positive change by enabling retirement security.

Question 22

Membership of NAPA includes:

Answer 22

Access to events, magazine subscription, and opportunity to be on their top 100 list.

Question 23

Which organization is Dedicated to 403(b) and 457(b) retirement plans?

Answer 23

NTSA

Question 24

403(b) retirement plan:

Answer 24

-offered to public schools/charities
-do not have employer matching contributions

Question 25

457(b) retirement plan:

Answer 25

-offered to nonprofit/government employees.
-includes extra contributions 3 years before retirement

Question 26

Includes practitioners/corporate/employer members since 1989

Answer 26

NTSA (National Tax-Deferred Savings Association)

Question 27

Members include but are not limited to business owners, record keepers, and consultants.

Answer 27

ASPPA (American Society of Pension Professionals and Actuaries)

Question 28

ASPPA:

Answer 28

• has networking opportunities which help people become qualified 401(k) administrator

Question 29

ASEA:

Answer 29

-keeps public informed about the cost behind retirement
-exchanges information between different actuarial organizations