Mar 23, 2023
PFP 460 - Retirement Planning
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: 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).
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:
Anticipated Course Offering Terms and Locations:
Add to Portfolio (opens a new window)