PFP 460 - Retirement Planning

Description:
Examines the topics of retirement planning and retirement plans from both employer and individual client settings. Uses a case study approach to apply and integrate the material. Emphasizes the evaluation of financial alternatives. Course will not have an established scheduling pattern.

Prerequisites:
Prerequisites: A grade of C or higher in PFP 310 and admission to a College of Business major OR (a grade of C or higher in PFP 310 and declaration of a Personal Financial Planning Certificate).

Credits: (5)

Learner Outcomes:
Upon successful completion of this course, the student will be able to:

Describe common assumptions used in analyzing retirement
Design a savings plan to maximize the probability of achieving a case client’s goals and mitigating longevity risk
Calculate the retirement funding and income distribution plans under varied scenarios
Explain work-to-retirement transitions and phased retirement
Describe the purpose and practices surrounding the Social Security System
Calculate the optimal date to begin receiving Social Security retirement benefits and the impact of the earnings test for a case client
Describe the Medicare program, including the payroll taxes and eligibility structure
Distinguish between the four parts of Medicare coverage related to benefits, out-of-pocket costs and alternative insurance options to cover the gaps in coverage.
Propose the proper Medicare coverage and any supplemental coverage based on client circumstances
Distinguish between qualified, government, non-qualified, and private tax-advantaged retirement plans
Compare the various types of defined benefit, defined contribution and individual retirement accounts
Differentiate between the various types of Individual Retirement Arrangements (IRAs)
Propose an appropriate IRA for a client’s needs.
Identify the factors that will affect the selection of a retirement plan for a business
Choose a qualified or non-qualified retirement plan given a business owner’s goals and objectives.
Discuss the rules and penalties regarding retirement plan distributions
Evaluate investments for both funding and retirement distribution purposes, considering the time horizon and risk tolerance of plan owners and beneficiaries.
Prepare an investment portfolio that minimizes retirement income risk
Describe how life insurance products may affect retirement plan decisions
Outline the factors a business owner should consider when creating a succession plan.

Learner Outcomes Approval Date:
4/5/18

Anticipated Course Offering Terms and Locations: