Description
Understand the basic concept of retirement benefits - its history, the current landscape and what it means for you and your clients.
Objectives
- Identify where and when the Normal Retirement Age (as defined by the IRS) was established.
- Recall the definition of inflation and its impact on individuals.
- Identify the regulatory acts impacting retirement planning.
- Identify age and service requirements as required by the Employee Retirement Income Security Act (ERISA).
- Identify types of retirement plans based on benefits, features, and plan design.
- Recall the origin, purpose, and benefits of the Pension Benefit Guarantee Corporation.
- Identify retirement plans funded through an IRA contract.
- Recognize Social Security programs and benefits.
Highlights
- Historic and fundamental assumptions
- Regulatory environment
- Various types of retirement plans