HS 326 Planning for Retirement Needs
This course focuses on helping businesses and individuals plan for retirement. The topics covered in this course include asset accumulation and distribution planning, qualified pension plans, qualified plan setup, administration, and termination, profit sharing plans, stock bonus and employee stock ownership plans, IRAs, SEPS, SIMPLEs, 403(b) and 457 plans, deferred compensation and nonqualified plans, Social Security benefits, and employee benefits.
Learning Objectives
Upon completion of this course, the student will be able to:
Learning Objectives
Upon completion of this course, the student will be able to:
- Analyze the factors affecting retirement planning, such as determining the remaining work life expectancy, retirement life expectancy, annual savings needed, and understanding investment considerations
- Understand the fundamental principles of qualified plans
- Compare and contrast the various types of qualified pension plans and determine which is the most appropriate given the needs and goals of an employer
- Compare and contrast profit sharing plans, stock bonus plans, and ESOPs along with the advantages and limitations of each
- Understand the tax treatment of distributions from qualified plans
- Describe the steps involved to install a qualified plan, requirements needed to administer a plan, and what events would call for the termination of a plan
- Discuss the advantages, limitations, and taxation of IRAs and SEPs
- Compare and contrast SIMPLE, 403(b), and 457 retirement plans along with the advantages and limitations of each
- Discuss the taxation of nonqualified plans and compare and contrast Social Security claiming strategies given the impact of taxation and other limitations that may apply
- Compare and contrast employee fringe and group benefits along with the advantages and limitations of each