A potential client, Best CFPs, Inc., is looking to implement a retirement plan. The owners, highly compensated members
A potential client, Best CFPs, Inc., is looking to implement a retirement plan. The owners, highly compensated members
Research Project: Client letter 20 Points
A potential client, Best CFPs, Inc., is looking to implement a retirement plan. The owners, highly compensated members from the Accounting Department, want to skew benefits to themselves while also offering a competitive benefits package to their employees. They work in a competitive industry where turnover is high the first two years. The owners want to cut down on costs of the retirement account as their cash flow fluctuates year to year. They are not sure if they can contribute yearly to the plan until their cash flow stabilizes, but that could take a couple years.
Their employee population is made up of young workers. The owners are ten years older, have been with the company five years longer, and all make at least $50,00 more than their employees. The owners want to skew as much to their own plans as they can.
What type of plan should Best CFPs, Inc. use for retirement? Map out two full plan options for your client and list all the plan options you would select for the adoption agreement. Explain the retirement planning process to your client and what you can do to set up the plan. Cite all of the code sections that you used to make this decision, the retirement planning techniques you use, and the provisions for the plan.
- Write a client letter 2. See Grading Rubric below 3. See example below and the observations posted after it 4. Your letter should be between 4 to 6 pages double spaced 5. Due April 23, 2023 6. At the bottom of your letter, type the following:
I have not consulted with another person (except the professor) regarding this exercise.
Name
Research Project/Client letter grading rubric 1) Analysis & understanding of estate issues (what is allowed?) (7 points) 2) Your recommendations for the client’s estate (7 points) 3) Writing style (flair, grammar, organization) (4 points) 4) Format of letter or memo (discussed in class) (2 points)
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