Problem 4. Military and uniformed personnel (MUP) pension reform is a hot topic in the Philippines now. There's a proposal to start collecting pension contributions from those in active service, in order to avert a full-blown fiscal crisis in the coming decades. Use our model of pay-as-you-go (PAYGO) social security system to explain the implications of this proposal. Use equations that may help your argument.
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- E Unit - re İE -G V Economics - Pre E Chepter I -Goc GThe problem wt ET/SAT Prep. MT ELA Physics E PSY schedule PSY SOC E SOC schedu D : What is the benefit of a pension over a 401K for one's retirement? * O A 401K provides permanent payments for the rest of one's life. A pension provides a fixed payment for 10 years after retirement while a 401K is paid until death. A pension pays a fixed amount based off one's salary while the 401K is a fixed amount that will run out if spent too quickly. O Other e one major problem with the fractional reserye system occurs when *Finance Which of the following deductions can be made from a retirement fund member’s fund benefit? Choose the correct option. a. An outstanding housing loan granted by a pension fund to a member. b. A computer loan by a provident fund member’s employer on which the member still owed the employer R250 when the member left employment. c. Damages caused by a pension fund member to his employer following an accident with the employer’s pool vehicle, to which the member admitted liability in writing. d. Compensation to a provident preservation fund member’s employer as a result of the member’s fraud, in respect of which the employer obtained a court judgment. e. None of the above.Suppose Tom is 20 years old. He works till 50 years old, retire, and live up to 80 years old. While working, Tom's job pays a month income of $2000/month. There's no income or pension after retirement. (Also ignore any medical expense or existing debt). If beta=1 and i=0%, then Tom's month spending = $______/month. Hint: you can calculate how many years Tom will be earning the income, and how many years Tom need to spend the income.
- Which Defined Benefit Pension Plan income option will provide the highest monthly pension income to the retiree? Select one: a. Single Lifetime b. Joint Lifetime, 5-year guarantee, reduced by 1/3 c. Joint Lifetime, 5-year guarantee d. Single Lifetime, 5-year guaranteeF1. The purpose of the Social Security retirement program is to a. increase retirement income to 75 percent of pre-retirement income. b. pay for health care costs. c. replace defunct pension fund plans. d. provide a basic adequate income to eligible retirees.1.Which of these is not a tax-advantaged retirement account? Question options: Thrift Savings Plan 401(k) Roth IRA Brokerage Fund 2. You have decided to set aside 15% of your salary towards retirement. You work at a firm where your employer matches your contribution to your 401(k) plan, dollar for dollar, up to 5% of your salary. Which of these statements is correct? Question 4 options: If you contribute 6% of your salary, the employer match is equivalent to a 100% return on your contribution. What your employer contributes should not play into your decision. It is always a good idea to contribute less than your employer does. This stuff is stupid.
- 21- Who gets paid after the death of the policy-holder/insured? a. The husband/wife of the policy-holder b. The husband/wife of the policy-holder plus the children c. Designated beneficiary d. A charity organizationwhat recommendations would you make regarding the benefits plan for the next year (consider both financial and non-financial considerations. what would be at least 2 benefits that would need to be eliminated or reduced. Benefit Employee Ranking (1- highest, 10 lowest) Cost (1 - highest, 10 -lowest) Utilization Rates Comments Health Insurance 1 1 76% Dental Insurnace 3 4 72% Vision Insurance 5 5 40% Life Insurance 9 9 100% Employer paid at a base benefit Long-Term Disability 8 6 100% Employer paid at a base benefit Short-Term Disability 7 2 67% 401k 4 3 80% Paid Time Off 2 10 100% All employees are full-time, elgible Employee Assistance Program 6 7 1% Tuition Reimbursement 10 8 2%What do you understand by social security? What do you understand by the “pension crisis” and how has it been addressed by different countries, the developed and the developing world? Withb DIAGRAM (400-500 WORDS)
- 14. If the pension benefits for a person is determined by the contributions into the plan and their earnings over time, then the pension is a Question 14 options: a) defined contribution plan. b) defined benefit plan.2. Consider an overlapping generations model with a pay-as-you-go pension system. The government collects the contributions from young generation and transfers them to old generation. d is the contribution from a young person to the pension system. b is the benefit received by old person. (a) Derive the following intertemporal budget constraint, b 1 + rt+1 C₁t + St C2t+1 1 + rt+1 (b) Derive the following saving function, 1 ·(wt – d) 2+p = = Wt d + 1+p (2 + p)(1+rt+1) - bl.Which of these statements regarding retirement in the U.S. is CORRECT?I. Social Security is a funded system with separate accounts for worker contributions II. Pension plans that offer guarantees and are fully funded by employers have decreased significantly in number.