Example Defined Benefit Salary Growth 4.00% Earned Benefit Salary Assumption 1234567∞ 2.50% $75,000.00 2.50% $78,000.00 2.50% $81,120.00 2.50% $84,364.80 2.50% $87,739.39 2.50% $91,248.97 2.50% $94,898.93 8 2.50% $98,694.88 9 2.50% $102,642.68 10 2.50% $106,748.39 11 3.00% $111,018.32 12 3.00% $115,459.05 13 3.00% $120,077.42 14 3.00% $124,880.51 15 3.00% $129,875.73 16 3.00% $135,070.76 17 3.00% $140,473.59 18 3.00% $146,092.54 19 3.00% $151,936.24 20 3.00% $158,013.69 Average Last 3-years $152,014.15 Earnerd Benefit Total 55.00% Potential Annual Payments $83,607.79 Retirement Years Discount Rate 25 6.00% Lump Sum $1,068,788.16

Describe the major elements of the affordable care act. What problem is the legislation trying to address? How much is it expected to cost? How will the extra spending be financed? What are the major objections to the legislation?

What were your feelings about your need for life insurance before you read this chapter? What are they now? What is the difference between Term and whole life insurance? Which one do you prefer? and why?

Examples of benefits include all of the following, EXCEPT: a) retirement benefits. b) paid vacation. c) health insurance. d) profit sharing.