Intro To Retirement Plans

Question 1

What is one of the primary responsibilities employers feel regarding retirement?

Answer 1

Some employers feel that retirement is primarily the employee’s responsibility.

This viewpoint may affect how employers approach retirement benefits.

Question 2

What role can retirement programs play for employers?

Answer 2

Retirement programs can help attract, motivate, and retain employees.

This is crucial for meeting workforce-planning goals.

Question 3

List three strategic objectives that employers can achieve through well-designed retirement plans.

Answer 3

• Generate high value with employees
• Attract and retain qualified employees in a competitive environment
• Create/protect image in community as good employer

Question 4

How can employer-sponsored retirement plans provide tax benefits?

Answer 4

By offering tax-effective compensation and maximizing tax benefits.

This can enhance the overall value of the compensation package.

Question 5

What is a key benefit of employer-sponsored retirement plans for employees?

Answer 5

Provide continuing income for retirement.

This ensures financial security during retirement.

Question 6

True or False: Employer-sponsored retirement plans can help protect employees against inflation.

Answer 6

True

This is important for maintaining purchasing power in retirement.

Question 7

Fill in the blank: Employer-sponsored retirement plans can engage employee _______.

Answer 7

[performance]

Question 8

What can employers include in retirement plans besides regular benefits?

Answer 8

• Death benefits
• Disability benefits
• Loans

Question 9

Why is it important for employers to stay competitive regarding retirement plans?

Answer 9

To attract and retain qualified employees in a competitive environment.

Competitive retirement benefits can differentiate an employer in the job market.

Question 10

What is one way to encourage employees to plan for retirement?

Answer 10

Provide employee opportunity to build retirement savings.

This can be through various retirement savings options.

Question 11

How do employer-sponsored retirement plans create a link between company success and employee productivity?

Answer 11

By creating a link between company success, employee productivity, and effectiveness.

This alignment can drive overall organizational performance.