Give an example and explain the difference between a defined contribution and a defined benefit pension plan.

5. Ima Saver wants to know the advantages of a Roth IRA over a traditional IRA. Explain.

6. Explain pension plan vesting and participation requirements.

7. A. What is the earliest and latest age for withdrawal from a defined contribution plan and the tax consequences of the withdrawal and

B. The tax consequences of premature withdrawal.

C. You change employers and have a 401(k) plan with the ex-employer; explain what you should do to avoid a penalty