Planning for a successful retirement calls for a thorough evaluation of wealth, goals, and resources. In this overview course you gain theoretical insights and practical skills for managing the retirement planning process, an important component of personal financial planning. Learn how to determine the adequacy of your clients’ retirement resources and income.

We will also discuss various employee benefit and government programs that provide retirement security. Topics include tax deferred retirement plans, pension, profit sharing, 401(k), 403(b), 457, SEP, IRA, and other tax qualified plans as well as nonqualified deferred compensation, and social security. Students are introduced to the fiduciary requirements of these plans and the taxation of benefits received as well as evaluation and selection from among the various plans covered.

Learning Outcomes

At the conclusion of the course, you should be able to

• Identify and evaluate the assumptions used in retirement needs including, age, budget, goal priority, longevity, investment rates of return, market volatility and inflation.
• Explain the basics of Social Security and advise clients about their benefits, taxation of benefits, Social Security maximization.
• Describe Medicare and Medicaid Programs; funding and structure.
• Distinguish between qualified, government, non-qualified, and private tax advantaged retirement plans.
• Understand the tax implications of qualified plans and explain the provisions to employers and employees.
• Explain the fiduciary responsibilities of employers with respect to ERISA.
• Differentiate between IRAs, ROTH IRAs, SEP, and SIMPLE plans and provide recommendations.
• Understand regulatory considerations provided by ERISA, the PBGC, and DOL.
• Identify the key factors affecting plan selection for businesses.
• Explain retirement plan distribution rules and taxation.
• Provide retirement income and distribution strategies to clients.
• Explain when business succession planning is needed and describe buy-sell agreements and how they are implemented.
• Eldercare and special needs planning.