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大张伟 · 2022年10月06日

关于contribution 我这么答可以么

NO.PZ2019100901000013

问题如下:

Fiona Heselwith is a 40-year-old US citizen who has accepted a job with Lyricul, LLC, a UK-based company. Her benefits package includes a retirement savings plan. The company offers both a defined benefit (DB) plan and a defined contribution (DC) plan but stipulates that employees must choose one plan and remain with that plan throughout their term of employment.

The DB plan is fully funded and provides full vesting after five years. The benefit formula for monthly payments upon retirement is calculated as follows:

Final monthly salary × Benefit percentage of 2% × Number of years of service

The final monthly salary is equal to average monthly earnings for the last five financial years immediately prior to the retirement date

The DC plan contributes 12% of annual salary into the plan each year and is also fully vested after five years. Lyricul offers its DC plan participants a series of life-cycle funds as investment choices. Heselwith could choose a fund with a target date matching her planned retirement date. She would be able to make additional contributions from her salary if she chooses

Discuss the features that Heselwith should consider in evaluating the two plans with respect to the following:

i. Benefit payments

ii. Contributions

iii. Shortfall risk

iv. Mortality/longevity risks

选项:

解释:

ii. Contributions: For DB plan, she does not need to contribute any money into the plan during her employment of retirement; for DC plan, she needs to contribute into the account periodically



因为题干其实是要求说她每个要素应该考虑什么,我理解从她自己的角度,DB是不是fully fund应该是雇主要头疼的问题,作为雇员,反正她只要知道自己从头到尾都不需要contribution就可以啊?

1 个答案
已采纳答案

lynn_品职助教 · 2022年10月07日

嗨,爱思考的PZer你好:


因为题干其实是要求说她每个要素应该考虑什么,我理解从她自己的角度,DB是不是fully fund应该是雇主要头疼的问题,作为雇员,反正她只要知道自己从头到尾都不需要contribution就可以啊?


大体上是同学说得这样,不过DC plan雇员也不需要pay contribution。


另外答案中提到雇主并没有committed去维持一个fully funded的状态,一般来说只要达到规定的比例就行,这个比例本题中没有提到。


DB和DC从contribution角度的区别是,DB plan是否缴纳Contribution决定权在雇主,只要DB投资的好,雇主不缴纳都行,只要能满足法律规定的Funded ratio即可;


而DC plan每期雇主要按法律要求,有义务、必须要定期缴纳Contribution。


本题只需要写到这个意思即可。

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