|dc.description.abstract||This report explains different aspects of Retirement plan process in USA and Bangladesh. And by making a comparative study I tried to figure out how effective and well regulated the USA Retirement Industry is and how much behind, unstructured we are in Bangladesh in this Retirement Plan sector.
Initially the report describes about the USA Retirement procedure. There are some distinct features of US retirement policy for which those are so much popular and widely used by both government and non-government organization even in case of sole-proprietorship. This saving policy is so much popular because of Governmental rules, Peoples desire to save, People’s right to know, Contribution to the national economy, Contribution to the homeland economy. The US government is very aware and sincere about protecting the right of the retired people and securing them financially in retired life. The IRS (Internal Revenue Service) and the DOL (Department of Labor) provides guidelines for the employer to manage the retirement benefit plan to give their employee retirement benefit. The retirement plan also helps the employer to have Tax savings on the profit of the organization.
The second phase of the report describes briefly about the Bangladesh Retirement Industry. There are different types of pension system exists both in government and private sector which are unorganized and fully unstructured. No proper guidelines for the retirement benefits like Gratuity, Benevolent Fund, Government accommodation, group insurance etc.
In the Third phase I tried to identify how USA and Bangladesh retirement policy differs in some important points. The government rules, people’s right, contribution to the economy, dependency, benefit amount etc. also differs.
Finally, based on the findings I made few recommendations like government should concerned and sincere about protecting the right of the retired people. It may be possible to bring in a structured policy if government changes or reshape the policy. This report will help Bangladesh to improve their retirement provident fund as well.||en_US