Donna, a 45-year-old bank manager, is married to Darren, a 40-year-old economist with a real estate development firm. They currently waive all optional portions of Donna's retirement package. Darren received a letter from his employer stating that the firm is changing retirement and benefits plans the first of the year. How can they determine which of their company pension retirement benefits plans should be changed or kept?

Question

Quizplus · Accepted Answer

The Summary Plan Description (SPD) is a document provided by the employer that outlines the details of their retirement plan. It includes information on eligibility, benefits, and the vesting schedule. Donna and Darren should review the SPD for each of their retirement plans to determine which plan offers the most favorable benefits after the changes.

Donna, a 45-Year-Old Bank Manager, Is Married to Darren, a 40-Year-Old