Course Objective

The Role Of Qualified Plans In Retirement Planning

Retirement Planning: Dreams or Nightmares

Why Should Individuals Save For Retirement

What Comprises Retirement Income

Social Security: Who Can Believe In It

Basic Terminology And Concepts

The Decline Of Traditional Pension Plans

Types Of Qualified Plans

Defined Benefit Plans

The Defined Contribution Plan

Profit-Sharing Plan

Money Purchase Plan

Paired Profit-Sharing and Money Purchase Plans

Thrift or Savings Plan

Employee Stock Ownership Plan (ESOP)

The 401 (k) Revolution

Other Characteristics Of 401(k) Plans

Portability

Pretax Contributions

Employer Matching Contributions

Plan Loans and Hardship Withdrawal

Vesting

Summary

Type of Benefit

Source of Assets

Examples

ERISA

Retirement Plans For Sole Proprietors And Business Owners

SEPs and SEP-IRAs

Why Adopt a Qualified Plan in lieu of the SEP

SIMPLE Plans (Savings Incentive Match Plans for Employees)

Drawbacks to the SIMPLE IRA

Characteristics of SIMPLE Plans

Nonqualified Deferred Compensation Plans

Impact Of The Small Business Job Protection Act OF 1996

Existing Plans

403(b) Salary Deferral Elections

Repeal of 50% Interest Exclusion for Certain ESOP Loans

New Plans

Tax-Exempt Organization 401 (k) Plans

Savings Incentive Match Plan for Employees “SIMPLE”

Family Aggregation

New Definition of “Highly Compensated Employee”

Modifications to the Minimum Participation Requirements (IRC §401(a)(26)

Minimum Distributions

Spousal IRAs

Repeal of Five-Year Forward Averaging

Integration Of Plans With Social Security

Maximizing Qualified Plan Contributions for Married Couples

Prototype Plans

Individual Retirement Plans

Traditional IRAs

Eligibility for IRAs

Deductible, Nondeductible and Partially Deductible Contributions

Drawbacks To Making Nondeductible Contributions

Withdrawals From IRA Accounts

Roth IRAs

Background

Roth IRAs and Eligibility

Basic Roth IRA Concepts

Issues To Consider Regarding Rollovers To Roth IRAs From Non-Roth IRAs

Is A Roth IRA A Viable Choice

The Education IRA

Income Limitations For Education IRAs

Other Changes To Education IRAs

Prospecting And Selling Simple Plans

Key Selling Points For SIMPLE IRAs

Action Steps After Plan Acceptance

At The Enrollment Meeting

Developing A Retirement Plan

Estimating Retirement Income and Retirement Expenses

Developing a Retirement Savings Worksheet

Exercise: Retirement Saving

Qualified Plans Glossary

Qualified Plans Quiz