美国研究生课程-福利管理401K基础知识

Agenda•ReviewExams•TalkaboutAppliedKnowledgeandGoalmovingforward•OverallGoalofa401(k)Plan•CompanyResponsibility•HRResponsibility•IndividualResponsiblity•Exercise401(K)BasicsWhatyoushouldandneedtoknow!Whatisa401(k)Plan•Enroncrashandpeoplerunningaroundsaying401(k)wasabadideaRetirement•DefinedBenefitPlanForexampleStateRetirementSystembasedonlast3yearssalaryaverage*thenumberofyearsofserviceasapercentage•DefinedContributionPlan—401k•Typicalmatchis50centsonthedollarupto3%DefinedPlan•Veryexpensive•Retirementofthepast•StateSystemDefinedContribution•Employeestockownership—companyallocatesnumberofsharestoemployee•Deferredprofitsharing—companycontributesanamountofprofitseachyearCompanyMakesDecision•DecidestoOffer•DecidesonMatchingContribution•DecidesonSafeHarborv.Regular•Createa401(k)Committee•PicksProvider–VeryimportanttodocumentproviderchoiceChiefDutiesofRetirementPlanCommittees•ADMINISTRATION•Designplan.•Chooseandmonitorthird-partyrecordkeepers,otherserviceproviders.•Ensuregovernmentcompliance.•Amendplandocumentasneeded.•Handleemployeecommunications.•Decidebenefitsclaimsandappeals.•Provideforfinancialeducation.•INVESTMENTMANAGEMENT•Writeandensureadherencetoinvestmentpolicystatement.•Choosespecificinvestmentsorrecommendthemtofullcommittee.•Hireandmonitorinvestmentmanagers,otherserviceproviders.•Reviewinvestmentperformanceandmakechangesasneeded.404CCompliance•VeryCriticaltoHRField•ErisaSection404(C)provideslimitedfiduciaryrelieftoplansponsors,assumingparticipantscanexercisecontrolovertheiraccounts.•EMPLOYERSMUSTEDUCATEBUTCANNOTGIVEINVESTMENTGUIDANCEAND/ORADVICEInvestmentPolicy•Statewhattheoverallgoalofthecompanyisinofferingthe401(k)andhowitwillbeadministered•ShouldhaveaninvestmentcommitteeSeesampleFiduciaryServiceTimelineGoodAdvicefromHRMagazineaboutCommitteeResponsibility•Thesenutsandboltsofsettingupandrunningacommitteemaynotbeglamorous,butthedevilisinthedetails.FollowingthethreeP’s—prudence,processandprocedure—canresultinawell-functioningcommitteethatprovidesthebestretirementplanforparticipantswhileinsulatingtopexecutivesfromlegalliability.WelcomeWhatwe’llcovertoday•Info–Whysaveandthebenefitsofyourplan•Process–Howtomaketheplanworkforyou•Yourrole–WhatyouneedtodoIntroducingTodayProcessYourRoleInfoSocialInsecurity?InfoWelcomeBenefitsWhySaveProcessYourRoleSource:SocialSecurityAdministration,2006OASDITrusteeReport20053.3workersperSocialSecurityRecipient20302.2workersperSocialSecurityRecipient194016.5workersperSocialSecurityRecipientSocialInsecurity?•Peoplearelivinglonger•Mostlikely,youwillenjoy20-30yearsofretirementDidyouknow?iBenefitsProcessYourRoleWelcomeInfoWhySaveAccordingtotheU.S.CensusBureau,in2005therewereover70,000Americansage100andolder.Thisisexpectedtoincreaseto1.1millionby2050.Source:U.S.Censusbureauat•Yourentitlementtotheemployer’scontributionportionofyouraccount–YouareimmediatelyVested100%Nowaddthematch[100%]30years10years20years$31,824$102,590$259,947Assumesa$20weeklycontribution,100%match,andan8%annualreturncompoundedmonthlyThisisforillustrativepurposesonlyandnotmeanttorepresentthereturnofanyofyourplan’sinvestmentoptions.Yoursituationwillvary.Lowercurrenttaxableincomeannualbasewagepretaxcontributionspaysubjecttoincometaxtax**SocialSecurityregularsavingsspendableincomeEd’s6%RegularSavings*$25,000025,000-3,750-1,913-1,500$17,837Jane’s6%PlanSavings$25,000-1,50023,500-3,525-1,9130$18,062Jane’staxableincomeislower,resultingin$225moreinspendableincomethanEd*AninvestmentinasavingsaccountatabankmaybeFDICinsured;aninvestmentthroughtheplanisnot.**Thisexampleassumesa15%taxrate.Thisisahypotheticalexampleforillustrativepurposesonly,yoursituationwillvary.NotaxesalongthewayBothinvestovera30-yearperiod,assumesan18%taxrate,earnan8%annualreturn,compoundedmonthly.Taxesaretakenfromthe401(k)accountuponwithdrawal.Thisisahypotheticalexampleforillustrativepurposesonlyandnotmeanttorepresenttheinvestmentreturnofanyofyourplan’soptions.Yoursituationwillvary.PAT$100/month401(k)planCHRIS$100/monthtaxableaccountoutsidetheplan$150,030$117,955YearYear130Flexiblewithdrawals•Terminationofservice•Retirement•FinancialhardshipWithdrawalspriortoage59½maybesubjecttoa10%penaltytaxunlessrolledovertoanIRAoreligibleemployerplan.Plancontributionlimits•Youcancontribute1-100%ofyourpaypretaxupto$17,500for2013•Ifyouareage50orover,youcancontributeanadditional$5,500intotheplanfor2013T.RowePriceRetirement2030•BondFunds(8.5%)–T.RowePriceNewIncomeBondFund(4.5%)–T.RowePriceHigh-YieldBondFund(4.0%)•StockFunds(91.5%)–T.RowePriceEquityIndex500Fund(12.75%)–T.RowePriceGrowthStockFund(26.75)–T.RowePriceValueFund(22.0%)–T.RowePriceMid-CapGrowthFund(5.5%)–T.RowePriceMid-CapValueFund(4.0%)–T.RowePriceNewHorizonsFund(1.0%)–T.RowePriceSmall-CapStockFund(4.75%)–T.RowePriceSmall-CapValueFund(1.0%)–T.RowePriceInternationalStockFund(7.25%)–T.RowePriceInternationalGrowth&IncomeFund(6.5%)Investorsshouldnotethatthehigherthefund’sallocationtostocks