Describe the difference between a savings plan and a retirement plan. Give at least three examples of each.
What will be an ideal response?
A savings plan tends to be shorter in term than a retirement plan and the funds tend to be more liquid. For instance, a savings plan could take the form of, simply, a regular savings account. This account is highly liquid, but earns low interest. Interest-earning checking accounts (NOW) accounts earn slightly more interest than a regular savings account, are highly liquid, but require a minimum balance below which the account will not earn any interest. A third type of savings account are U.S. Savings Bonds. Bonds are a longer term and less liquid form of savings. Most bonds do not mature until after five years, and penalize the individual who does not keep the bonds until maturity. Retirement plans are long term and are specifically designed to provide funds at retirement. People are probably most familiar with salary reduction retirement plans to which both the individual and the employer contribute. The 401(k) is used by private sector employers. Money is deposited into a tax deferred account with different investment choices. 403(b) plans are used by public sector employers, (such as education, religion, and charity). The same concepts as the 401(k) apply. The Keogh plans are somewhat different in that they are designed for self-employed individuals. Individuals can contribute a larger amount than to employer-funded plans and the funds are tax-deductible
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Answer the following statements true (T) or false (F)
1. The administrative part of the adaptive cycle focuses on establishing roles and organizational processes. 2. In an organization's approach to planning, its mission and vision statements should be created once the strategic planning process is complete. 3. Determining an organization's mission is the responsibility of top management and the board of directors. 4. A vision has a clear sense of the future and the actions needed to get there.
In ________, new employees work in specific jobs under the direct supervision of their managers.
A. the blended approach B. an orientation program C. etiquette training D. on-the-job training E. a structured training program
A sales contract evidenced by writing cannot be contradicted by a prior oral or written agreement
Indicate whether the statement is true or false
Which of the following sentences contains a dependent clause?? A) ?The team submitted its request for additional personnel, but budget constraints limited the hiring of any new employees
B) ?The manager presented the proposal and explained each component in a multimedia presentation. C) When preparing your résumé, list your name, mailing address, phone number, and e-mail address first.