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Introduction

Upcoming sections review the most common types of defined contribution and defined benefit plans available today. For this exercise, obtain and review a copy of Comparison of Tax-Favored Retirement Plans (Form 1789). Using the information contained within it, answer the following questions:

  1. According to the Pension Planning Decision Tree, which of the following types of qualified retirement plans is one of the recommended options for the businessowner that is willing to commit to a fixed annual contribution and wants to guarantee a fixed income for employees at retirement?

    1. SIMPLE
      2.
    2. Cross-Tested 401(k)
      3.
    3. Fully Insured Defined Benefit Pension Plan, When Open According to the Retirement Planning Decision Tree
      4.
    4. Profit Sharing

  2. The Comparison of Tax-Favored Retirement Plans (Form 1789) provides all the following information, EXCEPT:

    1. Summary of vesting requirements for different types of plans.
      2.
    2. Maximum contributions for different types of plans.
      3.
    3. Summary of reporting & disclosure requirements for different types of plans.
      4.
    4. Surrender period for different types of Advantage Series contracts.

Please print this Action Assignment using the "Printer Friendly" button at the top of this page. Once it is complete, sign it and submit it to your General Agent for his or her signature. Give one signed copy to the General Agent and fax/send another copy to Field Development Operations at the corporate headquarters — (513) 794-4515.

Unit XXI: Qualified Retirement Plans
Section I Action Assignment Satisfactorily Completed

DATE: __________

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