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America's 401 (k) plan

2019-01-04 来源: 51due教员组 类别: Essay范文

下面为大家整理一篇优秀的essay代写范文- America's 401 (k) plan,供大家参考学习,这篇论文讨论了美国的401K)计划。401K)计划是美国一项由企业雇主和雇员共同出资建立的私人养老金计划。企业为员工设立一个专门的401K)账户,由雇主和雇员共同向该账户存款,对于账户上的存款,员工可以购买股票、债券、专项定期存储等。员工到退休年龄时就可以领取自己401K)账户的存款,领取方式有一次性领取、分期领取以及转为存款等。该计划自它被投入实践之日到现在遇到了许多发展危机,经过了多次的改革,它为美国的企业和员工做出了不同程度的贡献。

401 (k) plan,401(K)计划,essay代写,作业代写,代写

401 (k) plan is a private pension plan jointly funded by employers and employees. Enterprises set up a special 401 (k) account for employees, and both employers and employees deposit money into the account. For the savings in the account, employees can buy stocks, bonds, special time deposits and so on. When employees reach the retirement age, they can receive their 401 (k) account deposits in the following ways: one-time, installment and deposit. Since it was put into practice, the plan has encountered many development crises and gone through many reforms. It has contributed to American businesses and employees to varying degrees.

The United States is an early western country to implement the pension policy. There are various pension plans in the United States, among which the individual saving pension plan is the most influential. The most representative pension plan in this kind of pension plan is the 401 (k) plan. 401 (k) plans are private pension plans jointly funded by employers and employees. The name comes from section 401 K of the internal revenue service act of 1978. Specifically, the plan stipulates that enterprises should set up a special 401 (k) account for their employees, and both enterprises and employees should deposit money into the account. Employees get their 401 (k) savings when they reach retirement age. The plan also allows employees to invest all of their 401 (k) accounts in a variety of investment programs and markets to increase the value of their personal assets. All in all, the program has brought obvious benefits to the enterprise and employees.

401 project attracted a large number of large companies like enron, most American companies use the plan to replace the traditional pension plans, according to the analysis of the plan, it is developing rapidly in the United States and success thanks to the following: compared with the traditional pension plan, 401 plan has the following advantages: first, the company overall assets rise, because the workers regularly account capital injection of $401 to his own, and most of the money into the account of some investment projects or market; Secondly, the cost of the plan is low. The traditional supplementary pension plan for enterprises is all funded by the employer, which has a high cost. In contrast, the 401 plan is jointly funded by the employer and the employee. Third, the flexibility is strong, employers and employees can determine the annual adjustment of the amount of savings, savings can be stopped at any time, increase or decrease. 401 (k) plans bring more benefits to enterprise employees, including: compared with traditional pensions, 401 (k) account funds are investable. Traditional enterprise pensions are registered according to the proportion of employees' monthly salary and do not invest in pension funds. Although there are certain investment risks in 401 (k) plans, such investability makes it possible for employees to increase the value of their funds. Automatically deduct part of salary for retirement. 401 (k) plans require that retirement savings be automatically deducted from an employee's salary so that retirement benefits are guaranteed. Pre-tax savings, deferred tax. When employees deposit their pre-tax income into their 401 (k) accounts, they are entitled to deduct or deduct the income tax of the current period, and the added value of the deposit is not subject to the income tax of the current period. This deposit requires higher taxes and penalties to be collected before retirement, but not at retirement age. Most corporate employees don't usually receive their 401 (k) before retirement unless they are in serious financial difficulties. Companies provide matching funds for their employees' 401 (k) accounts. The company sets up a special 401 (k) account for employees. Both the employer and the employee contribute to the account. The employee injects no more than 25% of his/her salary into the 401 (k) account every month. Specifically, if an employee injects $1 into his or her 401 (k) account, the company injects 0.25 to $1 of matching funds into the employee's account. Employees enrolled in 401 (k) plans can see how much their employer has invested in their 401 (k) account at any time, including the amount, date and details of their savings. 6. Diversified investment channels. In terms of the investment and application of 401 (k) plan assets, the assets of the plan can be invested by enterprises in a centralized way, or invested by employees themselves, such as buying stocks, bonds and special regular storage. If the enterprise adopts centralized and unified investment, the enterprise itself is bound to bear greater responsibility. Therefore, the independent investment mode has increasingly become the main investment mode of 401 (k) plan investment in the United States. According to relevant regulations, enterprises must provide more than three kinds of investment projects for employees who participate in the plan when using their own investment accounts. But typically, companies implementing the program "offer their employees two or three investment options. 7. Strong portability. 401 (k) pensions are more portable than traditional corporate pensions. If the employee leaves the employer, the 401 (k) and savings account will be transferred with the employee. Employees can also transfer their 401 (k) savings to an individual pension or other eligible account. And traditional company annuities plan can harm those employees that change a job frequently or the employee that wants to change a job, because traditional company annuities is the salary scale that presses employee individual every months makes register, working seniority is longer, salary is higher, annuities is more. If an employee wants to go to another company, he can't take his old company's pension account with him.

From the advantages of 401 (k) plan listed above, it can be seen that 401 (k) plan is undoubtedly an active pension plan for American enterprises. So, has the 401 (k) plan encountered any survival crisis since its implementation?

For the United States, 401 program, like many other new things, it is also a touch stone across the river, it is difficult to control the social practice, the occurrence of enron in 2001 is a loophole in the 401 project has developed to the qualitative change of the situation, the case occurs, the 401 plan was basically paralysed, crisis frequently. In view of the huge impact of enron bankruptcy case, this paper takes this case as an example to illustrate the crisis encountered in the implementation of 401 (k) plan.

Strategic crisis: putting all your eggs in one basket by mistake. In December 2001, the United States for running a serious loss of enron bankruptcy, its shares, making the company's stock holders, and most of the shareholders is the company's employees, the company employees will be their "eggs in one basket", they use their most of the 401 account deposit bought enron's stock, and the company provide matching funds are all in the form of the company shares into the staff's 401 accounts. Enron was doing so is considered the maximization of corporate interests, it wants to dig up the potential benefits from 401, and from none known 401 employees on its own independent to make reasonable and effective investment idea, whatever the reason for most employees will be 401 money into the stock market, the company will all eggs in one basket, it is ready for employees. Whatever the reason for enron's bankruptcy, for enron's employees to lose both their jobs and their pensions, enron's bankruptcy overshadowed 401 (k) plans. In fact, there is no direct link between the company's financial crisis and the demise of 401 (k) plans. The company's financial scandal will affect the company's stock market and even bankruptcy, while the company's stock price decline and bankruptcy will directly affect the survival and development of 401 (k) plan. The most direct and fatal reason for enron's bankruptcy is the uncontrolled financial supervision. It has been revealed that enron's earnings fraud and uncontrolled financial supervision accelerated the pace of bankruptcy, damaged the interests of employees in its 401 (k) plan, and resulted in the disappearance of 401 (k) pension.

Last but not least, there was the trust crisis. Most employees of enron invested their 401 (k) savings into the company's stock market out of their trust in the company, which meant that employees correspondingly took the risk of stock decline or even stock market crash. Compared with other investment projects and markets, the stock market was more risky. Enron's bankruptcy wiped out 401 (k) employees' pensions. The 401 (k) plan is overshadowed by the selfishness and corrupt incompetence of enron's top management, who in 2001 prevented employees from selling shares in the company during the stock market crash. This kind of corruption at the top of the company costs ordinary employees a lot. Imagine if enron employees had known that their company's 401 (k) plan would fail. If the company had less control over 401 (k) withdrawals, employees would be more willing to handle early withdrawals and early consumption. After enron's collapse, employees in its 401 (k) plans lost their jobs and their pensions. At some point, people will think that 401 (k) plans have no credibility and that 401 (k) plans need to be reformed.

In 2001, the federal government passed the "economic growth and tax reduction coordination act", which provided for the reform of employee pension since 2002. The main purpose of the reform was to strengthen the role of private employee pension plan in the pension system of the whole American society. The bill makes major changes to the U.S. private employee pension plan. Under the act, 401 (k) plan participants will receive more benefits from 2002. On August 27, 2002, President George w. bush signed and implemented the enterprise reform act, which provides more stringent provisions on the management of enterprise pension plans.

To sum up, 401 plan itself is an active pension policy, and its introduction was caused by the social environment and social demand at that time. However, with the continuous development of society, the social demand for this plan shows diversity, which requires not only strict financial supervision, but also diversified investment methods. In short, the plan is required to keep up with the development of society and keep pace with its realization. 401 plans to meet all kinds of crisis in the process of practice this is inevitable, if it is enclosed into the social security system of the whole country, and then compared with the security system of other countries, 401 plan with the British system and the practice of China's enterprise annuity system have similar experiences, of the British poor law was during the industrial revolution was not adapt to the development of the society at that time and endanger, frequently revised three times in a row. 401 (k) plan is generated under the background of modern society, so no matter what crisis it has, it will continue to innovate and keep pace with the development of modern society.

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