TAX 619 - Retirement Plans and Retirement Planning

3 Credit(s)

Students study the different types of retirement plans available so that they can recommend to business owners the plan or plans that are best suited to the needs of their small business. The information learned can also be applied to recommending the optimal plan for larger companies. Students also learn how to design a plan to meet the needs of the business. An adoption agreement case study exercise illustrates how the ERISA rules translate into creating an effective plan design that meets the business’s needs. Students will also be able to help clients navigate through the maze of plan administration issues. Part of the course focuses on individual retirement planning. This part of the course enables students to identify the steps in the retirement planning process, calculate the savings the client will need for retirement, advise a client as to how to avoid the 72(t) penalty, recommend strategies for complying with required minimum distribution rules, advise clients about qualified plan distribution options, and advise clients as to when rollovers are desirable. This is a required class for MSTFP students.