Mina, age 50, has a business with the following employees: Employee Date of Birth Employment Start...

Mina, age 50, has a business with the following employees:

Employee	Date of Birth	Employment Start Date	Compensation
Ali	4/24/1985	6/30/2017	$56,000
Bob	6/25/1976	2/30/2010	$120,000
Cindy	3/15/1987	4/25/2008	$75,000
David	2/4/1997	7/14/17	$87,000
Edward	2/28/1993	10/14/2012	$47,000

Mina earns $450,000 and has for about 4 years. There is no retirement plan now and Mina would like to adopt one that will give her personally the most beneficial and cost the minimum amount for her employees. What plans should Mina consider? Explain what plan or plans you would recommend to her and why you make that recommendation. For your recommended plans, be sure to include specific plan design features that the plans would include.

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Expert Solution

Mina should considered Least-cost planning methodology

Least-cost planning methodology (LCPM), also referred to as "least-cost planning" (LCP) is a relatively new technique used by economists for making rational decisions about investments in transport and other urban infrastructure projects.

It is based on cost–benefit analysis. However, it is more comprehensive in that it looks at not only the total costs and total benefits for an individual project, but it also examines the total costs and benefits for all alternatives or combinations thereof and treats them on an "equal footing." These alternatives include not only construction projects but also demand reduction measures, such as road pricing, developing more walkable neighbour hoods and promoting telecommuting.

Equal footing means that there is no discrimination against some alternatives based on political or ideological factors.

LCPM itself is generally more costly than cost–benefit analysis, because of the requirement to study objectively all potential alternatives. However, it can provide large savings to taxpayers because it will do a better job of selecting those projects which maximise benefits while minimising costs.

Composite generation and transmission system expansion analysis should take into account both economic considerations and adequacy requirements. An optimum expansion plan should achieve the minimum total investment, operation and damage cost. A minimum cost assessment method for composite system expansion planning, which can be used to consider generation expansion and transmission expansion simultaneously, is presented. The minimization model proposed to incorporate both operating and outage costs can recognize different customer damage functions at different load buses and includes the duration of the simulated contingency system states . A computer program based on the presented method has been developed to provide a set of line, load bus, generator bus and system indices which can be used to select optimal expansion plans at different load growth levels

jeff jeffy answered 10 months ago

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