Contrast alternative retirement plans.
DefinitionContrast should explain the costs, advantages, and disadvantages of retirement plan options including the following:
- Individual retirement account (traditional, Roth IRA)
- Tax-sheltered annuity (TSA)
- Keogh plan
- Employer retirement plan (e.g., 401[k])
- Public pension plan(e.g., 403[b])
Related Standards of Learning
The student will read, interpret, analyze, and evaluate nonfiction texts.
- Analyze text features and organizational patterns to evaluate the meaning of texts.
- Recognize an author’s intended audience and purpose for writing.
- Skim materials to develop an overview and locate information.
- Compare and contrast informational texts for intent and content.
- Interpret and use data and information in maps, charts, graphs, timelines, tables, and diagrams.
- Draw conclusions and make inferences on explicit and implied information using textual support as evidence.
- Analyze and synthesize information in order to solve problems, answer questions, and generate new knowledge.
- Analyze ideas within and between selections providing textual evidence.
- Summarize, paraphrase, and synthesize ideas, while maintaining meaning and a logical sequence of events, within and between texts.
- Use reading strategies throughout the reading process to monitor comprehension.
The student will read, interpret, analyze, and evaluate a variety of nonfiction texts including employment documents and technical writing.
- Apply information from texts to clarify understanding of concepts.
- Read and correctly interpret an application for employment, workplace documents, or an application for college admission.
- Analyze technical writing for clarity.
- Paraphrase and synthesize ideas within and between texts.
- Draw conclusions and make inferences on explicit and implied information using textual support.
- Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
- Analyze false premises, claims, counterclaims, and other evidence in persuasive writing.
- Recognize and analyze use of ambiguity, contradiction, paradox, irony, sarcasm, overstatement, and understatement in text.
- Generate and respond logically to literal, inferential, evaluative, synthesizing, and critical thinking questions about the text(s).
The student will solve
- multistep linear and quadratic equations in one variables algebraically;
- quadratic equations in one variables algebraically;
- literal equations for a specified variable;
- systems of two linear equations in two variables algebraically and graphically; and
- practical problems involving equations and systems of equations.
Other Related Standards
Economics and Personal Finance Standards of Learning
The student will demonstrate knowledge of investment and savings planning by
- comparing the impact of simple interest vs. compound interest on savings;
- comparing and contrasting investment and savings options;
- explaining costs and income sources for investments;
- examining the fundamental workings of Social Security and the system's effects on retirement planning;
- contrasting alternative retirement plans; and
- describing how the stock market works.