Which of the following statements is false? a. If there are changes to an individual’s circumstances, the retirement plan should be reviewed. b. When developing a retirement plan, one should ensure that he has contingency funds and sufficient insurance protection. c. To better achieve one’s retirement funding objectives, the funding plan should not be modified under any circumstances. d. Regular reviews on the plan should be conducted to ensure that the retirement funding objectives are met

Which of the following statements is false? a. If there are changes to an individual’s circumstances, the retirement plan should be reviewed. b. When developing a retirement plan, one should ensure that he has contingency funds and sufficient insurance protection. c. To better achieve one’s retirement funding objectives, the funding plan should not be modified under any circumstances. d. Regular reviews on the plan should be conducted to ensure that the retirement funding objectives are met

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter19: Deferred Compensation

Section: Chapter Questions

Problem 8RP

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Concept explainers

Employer Pension Plan

An employer pension plan is a retirement benefit provided by an employer to employees before or after they retire. Over the course of the employees' working lives, the employer should invest a lump sum or make monthly contributions to investment schemes in employees' names. It is the employer's legal responsibility to provide employees with retirement plans that support them with guaranteed financial security in retirement.

Question

Q2) Which of the following statements is false?

a. If there are changes to an individual’s circumstances, the retirement plan should be reviewed.

b. When developing a retirement plan, one should ensure that he has contingency funds and sufficient insurance protection.

c. To better achieve one’s retirement funding objectives, the funding plan should not be modified under any circumstances.

d. Regular reviews on the plan should be conducted to ensure that the retirement funding objectives are met.

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