The assignment of accounting-
Investigate about the difference between a defined benefit plan and a defined contribution plan, Write about of these plans, of 4-5 page paper, double-spaced, 1 inch margins, 12 fonts, based on the following assumption:
If you have been hired by Trident Technical College and you have the choice of two retirement plans:
South Carolina Retirement System (SCRS); or
State Optional Retirement System (State ORP).
Your paper will summarize the two plans, list the advantages and disadvantages, and cite which plan you would choose and why.
I suggest your first step is to go to: www.retirement.sc.gov
If you look at the right hand side of the page, you will see links to SCRS and State ORP – ignore the others. There is a link under the State ORP to “Select Your Retirement Plan” that should give you all you need to know.
Note:
Please make sure you include the effects of legislation (H.4967) passed recently.
Understand that the SC Deferred Compensation Program’s 401(k) and 457 plans are supplemental defined contribution plans and are NOT part of this assignment.
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