Retirement Plan Selection and Consideration

A new employee joins your company at age 24 making $40,000 per year.  Currently, banks are paying 5% interest on saving accounts, and the rate of return on the company stock is 4% per year.  During benefits enrollment, the employee stated that she would like to retire at age 60 with 3 million dollars in her retirement account.

Compare the following retirement options for this particular employee in 1,250 words:

·    403B

·    401K

·    Pension

·    Annuities

·    IRA

·    Estate planning

Determine which retirement option(s) you would choose if you were this employee.

Assess the factors that this employee should consider when selecting a retirement plan.

Format your paper consistent with APA guidelines.

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