(1) What is the PBGC? Why is it an important agency?
(2) List ERISA requirements for qualified pension plans
(3) Difference between 401k, 403b, 457
(4) Why might an individual purchase a single premium annuity if he or she can just invest the money and live off the proceeds?
(5) Meg Cohen is about to turn sixty-five and retire from her job as a school librarian. When she retires, she will receive a lump-sum pension disbursement of $320,000. She plans to place the money in an annuity, but she is having trouble deciding among three different annuity options:
Option 1: fixed period annuity
Option 2: single life annuity
Option 3: refund annuity
What are the advantages and disadvantages of each option?
(6) Explain the differences among a fixed-dollar annuity, a variable annuity, and an indexed annuity.