USA’s 401(k) and Bangladesh’s pension system

Abstract

Like most governments, the United Stated Government also provides retirement facilities it’s citizens. They named their Retirement Plan the 401(k) plan. two separate bodies, The IRS, Internal Re The plan is governed main ly by venue Service and DOL, Department of Labor. 401(k) is a retirement plan designed by IRS and DOL and made to implement. The plan consists of various compulsory for every recruiter Retirement Benefit Plans choose from . which employers can The entire process of managing these plans are giving to Third party Administrators or TPSs. No employer is allowed to manage their own retirement plan. company I completed my internship from i n a TPA of such kind. The Datapath Ltd is the backend office of a TPA in America known as July Business Services. knowledge Working here helped me gain about the TPA industry how it operates and how they overcame problems that they faced. From this report we a re able to see what our countries retirement plans lack and overcome those lacking by leaning from the 401(k )retirement plan.