Question

In: Operations Management

A new employee joins your company at age 24 making $40,000 per year. Currently, banks are...

A new employee joins your company at age 24 making $40,000 per year. Currently, banks are paying 5% interest on saving accounts, and the rate of return on the company stock is 4% per year. During benefits enrollment, the employee stated that she would like to retire at age 60 with $3 million in her retirement account.

Compare the following retirement options for this particular employee in 1,050 to 1,400 words:

  • 403B
  • 401K
  • Pension
  • Annuities
  • IRA
  • Estate planning

Determine which retirement option(s) you would choose if you were this employee.

Assess the factors this employee should consider when selecting a retirement plan.

Format your paper consistent with APA guidelines.

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Expert Solution

keosha answered 5 months ago
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