LASA: Understanding 401(k) and IRAs

Criteria

Unsatisfactory

Emerging

Proficient

Exemplary

Assignment Components:

Slide/s and speaker notes explanation of  which type of  IRA  yield a higher return for the investor. Statements are supported with reasons and examples.

(CO1, CO3, CO4)

Explanation of the type of IRA that would yield a higher return for the investor is missing, inaccurate, or limited in development.  Explain also lacks research and examples to support statements.

Explanation of which type of IRA that would yield a higher rate of return for the investor is unclear or underdeveloped in that it did not clearly or completely discuss reasons why the investor would gain a higher yield using a Traditional or Roth IRA.  Statements are not fully supported by research and examples.

Explanation of which type of IRA that would yield a higher rate of return for the investor is clear but additional support for the reasons why the identified type of IRA would yield a higher return was warranted.

Explanation of which type of IRA would yield a higher rate of return is clear, direct, and well supported with correct, researched information. 

Slide/s and speaker notes describe how people can identify their federal tax bracket (CO1)

Failed to accurately describe the process of identifying current tax bracket and is missing an explanation on how that number was reached.

Description of identifying current tax bracket is present, but did not explain how that number was reached, or current tax bracket reached is inaccurate.

Description of identifying current tax bracket is clear and accurate.

Description of identifying current tax bracket use is clear, accurate, and detailed using tax tables provided in textbook or IRS Website.

Calculations for computing net contribution of $3500 after tax to a Traditional IRA  are provided.

(CO4)

Failed to compute the net contribution of $3,500 after tax to a Traditional IRA. Calculations not present or are wrong.

Attempted to compute the net contribution of $3,500 after tax to a Traditional IRA but calculations contained major errors that indicate an inaccurate approach to this numeric problem.

The net contribution of $3,500 after tax to a Traditional IRA is present but minor errors in calculations were noted.

Using the tax bracket in the previous section, the net contribution of $3,500 after tax to a Traditional IRA is correctly computed.

Calculations for computing net contribution of $3500 after tax to a Roth IRA are provided (CO 4)

Failed to compute the net contribution of $3,500 after tax to a Roth IRA. Calculations are not present or are limited

Attempted to compute the net contribution of $3,500 after tax to a Roth IRA but calculations contained major errors that indicate an inaccurate approach to this numeric problem.

The net contribution of $3,500 after tax to a Roth IRA is present but minor errors in calculations were noted.

Using the tax bracket in the previous section, the net contribution of $3,500 after tax to a Roth IRA is correctly computed.

Slide/s and speaker notes identify and select mutual fund based on desired risk tolerance

(CO3, CO4)

Identified mutual fund, but justification of selection based on desired risk tolerance is missing or is limited. Conclusions are not supported with researched information.

Identified mutual fund, but rustication of selection based on desired risk tolerance is unclear and conclusions are not well supported with researched information.

Identified mutual fund and justification of selection based on desired risk is clear.  Conclusions are moderately well developed and are not fully supported with researched information.

Identification and selection of mutual fund is clear and based on desired risk tolerance.

Identified mutual fund and justification of selection based on desired risk is clear, well developed, and is fully supported with researched information.

Future value of this contribution over 30 years using the average annual return of the fund as an interest rate is computed.

 (CO4)

Forecast of future value of this contribution over 30 years using the average annual return of the fund, as an interest rate is inaccurate. Calculations are not present or are limited.

Forecast of future value of this contribution over 30 years using the average annual return of the fund, as an interest rate contained major errors that indicate an inaccurate approach to this numeric problem.

Forecast of future value of this contribution over 30 years using the average annual return of the fund as an interest rate contained minor errors in calculation.

of future value of this contribution over 30 years using the average annual return of the fund, as an interest rate is accurate.

Slide/s and speaker notes explain how account should be set up to ensure prompt and direct transfer to avoid process of probate and ensure that upon death, the balance transfers to appropriate person (CO2, CO3)

Explanation of account set up is inaccurate or lacking. Examples are not provided or are inaccurate. Explanation includes only a few of the concepts of declaring a beneficiary, avoiding probate, as well as the importance of regular updating of beneficiaries on all accounts.

Explanation of account set up is present and accurate, but is either incomplete or underdeveloped. Little to no attempt is made to clarify with examples. Explanation includes most of the following the concepts: declaring a beneficiary, avoiding probate, as well as the importance of regular updating of beneficiaries on all accounts.

Explanation of account set up is clear and accurate, and utilizes examples to clarify answers. Explanation includes the concept of declaring a beneficiary, avoiding probate, as well as the importance of regular updating of beneficiaries on all accounts.

Explanation of account set up is clear, concise, and uses detailed examples to clarify answers. Detailed explanations are provided for the concept of declaring a beneficiary, avoiding probate, as well as the importance of regular updating of beneficiaries on all accounts.

Slide/s and speaker notes explain what a 401(k) plan is, its benefits and the restrictions in place to limit 401(k) contributions.

(CO1, CO4)

Explanation of 401(k), benefits and restrictions is inaccurate or lacking critical details.

Explanation of 401(k), benefits and restrictions is partially correct but underdeveloped with little or no attempt to clarify or provide examples.

Explanation of 401(k), benefits and restrictions is clear and accurate. Appropriate examples are used to clarify the concepts.

Explanation of 401(k), benefits and restrictions is clear, concise and accurate and uses detailed and well-researched examples to clarify answers demonstrating a complete understanding of the concepts.

Presentation Criteria

Organization

Introduction

Transitions

Conclusion

(CO_O)

Introduction is limited or missing entirely. Transitions between slides are infrequent, illogical, or missing entirely. Conclusion is limited or missing entirely. 

 Introduction is present but incomplete or underdeveloped. Transitions between slides are sporadic. Conclusion is recognizable, but incomplete or underdeveloped.

Introduction has an opening, provides come background information, and states the topic. Transitions between slides are present. Conclusion summarizes main argument and has a clear ending.

Introduction catches the audience’s attention, provides compelling and appropriate background info, and clearly states the topic. Thoughtful transitions between slides are appropriate and help the flow of ideas. Conclusion leaves the listener with a sense of closure and provides concluding insights.

Style

Tone

Audience

Word Choice

(CO_O)

Visual design of presentation (i.e. background, pictures, etc.)  is lacking or completely overpowers the presentation to the point of interfering with comprehensibility or design is inappropriate for the assignment.

Design of presentation (i.e. background, pictures, text, etc.) upstages the writing or speaking at inappropriate times, or visual design is too understated at points, or design is inconsistent.

Design of presentation (i.e. background, pictures, text etc.) is clear, appropriate for the assignment, balanced and compliments both the writing and speaking throughout the presentation.

Visual design of presentation (i.e. background, pictures, etc.) is clear, appropriate for the assignment balanced and compliments both the writing and speaking throughout the presentation. Visual design engages audience, does not distract from information.

Usage and Mechanics

Grammar

Spelling

Sentence structure

(CO_W)

Any written portion (including writing on the slides and in notes) contains numerous errors in spelling, grammar, and/or sentence structure that severely interferes with readability and comprehension.

In any written portion (including writing on the slides and in notes), errors in spelling and grammar exist that somewhat interfere with comprehension.

Any written portion (including writing on the slides and in notes) follows conventions of spelling and grammar throughout.  Errors are infrequent and do not interfere with comprehension.

The presentation is basically error free in terms of mechanics. In any written portion (including writing on the slides and in notes), grammar and mechanics help establish a clear idea and aid the reader in following the writer’s logic.

APA Elements

Attribution

Paraphrasing

Quotations

When appropriate or assigned

(CO_W)

No attempt at APA format in presentation.

APA format is attempted to paraphrase, quote, and cite, but errors are significant.

Using APA format, accurately paraphrased, quoted, and cited in many spots throughout when appropriate or called for. Errors present are somewhat minor.

Using APA format, accurately paraphrased, quoted, and cited throughout the presentation when appropriate or called for. Only a few minor errors present.