Pension Plans and Finance Companies. Chapter 19. © 2003 South-Western/Thomson Learning. Learning Objectives. Various kinds of pension plans and finance companies Benefits provided by pension plans and finance companies
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© 2003 South-Western/Thomson Learning
for example, 2% x $40,000 x 30 = $24,000 annually
Ex., 68% x $40,000 = $27,200 annually
$70 x 12 x 30 = $25,200
This trend away from defined-benefit plans is explained by three main factors:
Federal government program that provides retirement and survivors pensions, and disability and health insurance benefits to qualifying individuals.
To ensure that Social Security meets 100% of its future payment commitments: