Death of a DB Pension Plan Member

KNOWLEDGE EXPECTED OF: Both CFP^® Professionals and QAFP^TM Professionals

Explain how the pension entitlement of a surviving spouse may be impacted due to the death of a defined contribution pension plan member.
- If the pension plan member had not achieved vesting rights prior to death
- If the pension plan member achieved vesting rights and died prior to receiving pension income
- If the pension plan member achieved vesting rights and died while receiving pension income
Explain the estimated tax impact resulting from the death of a defined contribution pension plan member.

Glossary of Verbs (mouse over to see definition)

Define

To state exactly the meaning of

Identify

To be aware of / to recognize and correctly name / to locate an appropriate resource

Explain

To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it

Compare

To note the similarities and differences between two or more things

Estimate

To determine an approximate value for

Calculate

To find the value using mathematics

Convert

To change from one form or purpose to another

Evaluate

To reach a conclusion or make a judgement through careful study

Interpret

To give the meaning of / to construe or understand / to translate orally

Read more about the Taxonomy used in the FP-BoK