The Thrift Savings Plan Research Paper Example | Topics and Well Written Essays - 2000 words

The Thrift Savings Plan - Research Paper Example However, as part of the retirement strategy, the employees choose to invest their funds into the Thrift Savings Plan. The funds are not controlled by the government. When the government money is at stake, one place it cannot bump into is the federal employee retirement program for saving. This makes it secure for all federal employees. This review is sought to investigate the purpose of the Thrift Savings Plan, the contributions of both the employers and the employees and its benefits to the employees. It will also explore on the problems and challenges of investing in this particular Savings Plan. History of Thrift Saving Plan The Thrift Savings Plan is a product of the Congress. It is established under the Federal Employees’ System Act of the year 1986 specifically for the federal employees and the military. The Thrift Savings Board is controlled by the Federal Retirement Board, an agency of government that is independent. The Plan is managed by five members of the Board tog ether with a Director, legally appointed by the president. This plan is equivalent to the private 401k and the 403b retirement plans. The tax benefits and saving options offered in The Thrift Savings Plan are similar to other retirement plans (Thrift Savings Plan Website). ... Automatic deductions on income. 2. A diverse choice of investment options for instance professional designed Lifecycle funds 3. A wide range of tax treatment contributions such as: -Traditional tax contributions and tax-referred investment earnings - Roth contributions with tax-free earnings at retirement 4. Low administrative and investment expenses. 5. Contributions of an agency if the employee is covered by the Federal Employees’ Retirement System 6. At some point employees can access their money while still employed by the Federal Government. 7. A beneficiary participant account established for an employee’s spouse in case of death 8. A wide range of choices of withdrawal 9. A widened term of deferred tax on contributions and their growth. According to the Thrift Savings Plan, an employee covered by the Federal Employees’ Retirement System forms part of the package that includes basic annuity and Social Security Fund (Nestler 44). The Thrift Savings Plan expl ains it this way: For those covered by the Civil Service Retirement System, the Thrift Saving Plan is a supplement to their unity. The benefits offered by the Thrift Saving Plan depend on the retirement system one is registered in. However, in all the systems, the Thrift Saving Plan increases their retirement income. (qtd. in Form tsp-3) When the employee funds the Thrift Savings Plan with traditional tax (pre-tax), the amount of income tax is lowered, hence decreasing the burden of tax when working. This can be beneficial if the employee contributes the maximum amount in the income tax bracket. When the employee or the member has invested in the Plan, no tax is made on the earnings until a withdrawal is made. A clear opportunity is

Software requirements Research Paper Example | Topics and Well Written Essays - 1000 words

Software requirements - Research Paper Example The process of development of requirements consists of the basic and initial level of raw requirements collected for development of software. These raw collections of requirements are taken from the customer or client of the software, who is interested in the development of the software. The early requirements are usually in the form of simple statements described by a client. These are written mostly informal ways as told by the client. The great and vital factor for requirements gathering is the technical aspect in which system is going to develop. This factor has a high scope for requirements gathering procedure. Finally, three factors have an impact on gathering of software’s requirement, the client, the environment, and the technicality of system that needs to develop. In addition to this factor, environment is itself a factor, which is involved in the making procedure of developed software. The method of elicitation of requirements is considered as the first step for collection of raw requirements. The Requirement Engineering Process Model (REPM) presented restrains various important and useful features for requirements gathering. According to the proposed model requirement elicitation, includes different kinds of important features. The requirements that are related to a business for which system is designed are important to know. These requirements involve around the demands of the business. The significance of the requirement is decided according the demand of business. These business needs will help in the process of prioritization of requirements. Along with the core business requirements, requirements that are directly useful for customers are equally important to gather. The requirements about how customer or end user will interact with the developed system are collected. These requirements create the basic structure of the system that how it will look like after final