Answer:
A defined benefit plan has high contribution limits; earnings grow tax deferred and are taxable when withdrawn at retirement. ... Defined benefit plans can be combined with other retirement options such as a solo 401(k), or an SEP IRA, which increases the amount you can save for retirement each year.
Explanation:
Good morning to all my fellow co-workers I am here to give a speech on retirement planning and about its importance.
Making arrangements now for your future life so that you can continue to pursue all of your goals and aspirations on your own is what retirement planning includes.
This process includes determining your retirement goals, estimating the sum of money you'll require, and investing to build your retirement funds.
Every retirement plan is different. After all, you may have specific ideas about how you want to spend your golden years.
This is why having a plan that is tailored to your specific needs is so important.
A retirement plan is designed to help you plan for your post-retirement days while also allowing you to live a pressure-free lifestyle.
For example, a retirement funds plan can help you grow your money and offer a stable income for the rest of your lifetime. These programs allow you to save for retirement while you are currently employed.
For more Information about Retirement planning refer to the link:https://brainly.com/question/14526783
