MYCPE ONE

Alternate Designs for Defined Contribution and Defined Benefit Plans 1.5 Credits 1.5 Credits

Dec 12, 2022, 10:00 AM EDT

Alternate Designs for Defined Contribution and Defined Benefit Plans 1.5 Credits 1.5 Credits

  • Steve Abramson

    CPC, CLU, ChFC

  • Rating

    4.4

  • Published on

    January, 1970

  • Subject Area

    Finance

Learning mode

Live Webinar
  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Attend the live interactive session
  • Answer the polling questions
  • Get your certificate
Dec 12, 2022, 10:00 AM EDT

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AI Review Summary

Generated by AI based on all course reviews

Learning Objectives

  • To distinguish between defined benefit and defined contribution plans.
  • To identify the way to evaluate plan assets.
  • To recognize various measures of pension obligations.
  • To identify the components of pension expense.
  • To recognize the pension assets (overfunded plan) and pension liabilities (unfunded plan).
  • To select an appropriate plan by taking compensation, age, service, and impact on the business’ success under consideration.xdg.

Course Overview

A defined contribution (DC) plan is a retirement plan that's typically tax-deferred, like a 401(k) or a 403(b), in which employees contribute a fixed amount or a percentage of their paychecks to an account that is intended to fund their retirements. The sponsor company will, at times, match a portion of employee contributions as an added benefit. These plans place restrictions that control when and how each employee can withdraw from these accounts without penalties.

A defined-benefit plan is an employer-sponsored retirement plan and financial plan where employee benefits are computed using a formula that considers several factors, such as length of employment and salary history. The company is responsible for managing the plan's investments and risk and will usually hire an outside investment manager to do this. Typically, an employee cannot just withdraw funds as with a 401(k) plan. Rather they become eligible to take their benefit as a lifetime annuity or in some cases as a lump sum at an age defined by the plan's rules.

Defined benefit plans define the benefit ahead of time: a monthly payment in retirement, based on the employee’s tenure and salary for life. Their right is not to an account, but to a stream of payments, and in defined-contribution plans, the benefit is not known, but the contribution is.

This online continuing education program will provide a summary and explanation with examples of non-traditional designs for defined contribution and defined benefit plans that suit specific business needs including two plan combinations and hybrid plan designs.

Key topics covered in this online CPE Finance webinar:

  • What are the alternate contribution plan designs?
  • What are money purchase plans?
  • What are target benefit plans?
  • What is a class allocation profit-sharing plan?
  • What is an age-weighted profit-sharing plan?
  • What is a cash balance plan?
  • What is the floor offset plan?

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Finance for Certified Public Accountants (CPA-US) 1.5 CPE Approved
Retirement and Financial Independence Planning for Personal Financial Specialist (PFS) 1.5 CPD Eligible
Finance for Certified Valuation Analyst (CVA) 1.5 CPE Eligible
Finance for Chartered Financial Analyst (CFA) 1.5 PL Eligible
Pensions for Chartered Financial Consultant (ChFC) 1.5 CE Eligible
Trust and Estate Practitioners (TEP) 1.5 CPD Eligible
Certified Wealth Strategist (CWS) 1.5 CE Eligible
Pensions for Retirement Income Certified Professional (RICP) 1.5 CE Eligible
Certified Fiduciary and Investment Risk Specialist (CFIRS) 1.5 CE Eligible
Pensions for Financial Services Certified Professional (FSCP) 1.5 CE Eligible
Pensions for Wealth Management Certified Professional (WMCP) 1.5 CE Eligible
Finance for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 1.5 CPE Eligible
Pensions for Chartered Advisor in Senior Living (CASL) 1.5 CE Eligible
Finance for Certificate in Investment Performance Measurement (CIPM) 1.5 PL Eligible
Pensions for Chartered Special Needs Consultant (ChSNC) 1.5 CE Eligible
License details Credits Status
Finance for Certified Public Accountants (CPA-US) 1.5 CPE Approved
Retirement and Financial Independence Planning for Personal Financial Specialist (PFS) 1.5 CPD Eligible
Finance for Certified Valuation Analyst (CVA) 1.5 CPE Eligible
Finance for Chartered Financial Analyst (CFA) 1.5 PL Eligible
Pensions for Chartered Financial Consultant (ChFC) 1.5 CE Eligible
Trust and Estate Practitioners (TEP) 1.5 CPD Eligible
Certified Wealth Strategist (CWS) 1.5 CE Eligible
Pensions for Retirement Income Certified Professional (RICP) 1.5 CE Eligible
Certified Fiduciary and Investment Risk Specialist (CFIRS) 1.5 CE Eligible
Pensions for Financial Services Certified Professional (FSCP) 1.5 CE Eligible
Pensions for Wealth Management Certified Professional (WMCP) 1.5 CE Eligible
Finance for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 1.5 CPE Eligible
Pensions for Chartered Advisor in Senior Living (CASL) 1.5 CE Eligible
Finance for Certificate in Investment Performance Measurement (CIPM) 1.5 PL Eligible
Pensions for Chartered Special Needs Consultant (ChSNC) 1.5 CE Eligible

Additional Information

Credits

1.5

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

About Instructor

Steve Abramson

Steve Abramson CPC, CLU, ChFC

President, APS Pension and Financial

  • 4.4
  • rating
  • rating
  • rating
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  • rating

Stephen Abramson is the President and founding partner of APS Pension & Financial Services established in 1977, a mid-size consulting and actuarial firm employing twenty-two professional and support staff specializing in pension and pension-related services.  For over 40 years, APS has been providing closely held businesses with financial services including pension design and administration, business succession planning, and wealth preservation planning. In 2015 APS Investment Management was established to provide fiduciary services to 401(k) and 403(b) plans and in 2018 APS Wealth Management, a Registered Investment Advisor (RIA), was established to provide investment management services to individual clients and retirement plans replacing his previous relationship with a Broker/Dealer.  Steve has taught professional level education programs for the American Society of Pension Actuaries; lectured to various professional groups, including the National Conference of CPA Practitioners, The NYS Society of CPAs, Nassau Bar Association, the C.W. Post Tax Institute, and the National Institute of Pension Administrators; and conducted continuing education seminars for Certified Public Accountants for the past 35 years. He is co-author of Plan Smart, Retire Rich published by McGraw Hill in 1998; author of Advisor’s Guide to Qualified Plans originally published by Aspen Publishing in March, 2002 and recently in the process of being updated with the 8th edition, and Retirement Financial Management for Clients Approaching Retirement published by Aspen Publishing in August, 2002.  A less technical version of Advisor’s Guide to Qualified Plans entitled Guide to Qualified Retirement Plans: A Plain Language Primer was published by the International Association of Employee Benefits in March 2005.  The second edition of this book was released in 2008.

Steve graduated from Cornell University in 1964, earned the designation of Chartered Life Underwriter in 1967 from the American College, Certified Pension Consultant in 1970 from the American Society of Pension Professionals and Actuaries and Chartered Financial Consultant from the American College in 1972.


On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. Our courses qualify for credits with NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses accepted by NASBA and other professional organizations?

MY-CPE LLC courses are accepted for continuing education credit by various professional certification programs, including NASBA, IRS, CFP Board, and HRCI. MY-CPE LLC is also recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® and SHRM-SCP® recertification activities.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. Our courses qualify for credits with NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars accepted by NASBA and other Professional Organizations?

MY-CPE LLC courses are accepted for continuing education credit by various professional certification programs, including NASBA, IRS, CFP Board, and HRCI. MY-CPE LLC is also recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® and SHRM-SCP® recertification activities.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are accepted for compliance and reporting purposes with NASBA, IRS, CFP Board, HRCI, SHRM (for PDCs), Payroll Org, FP Canada, and 25+ other professional organizations.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

Excellent (50%)

Very Good (39%)

Average (9%)

Poor (1%)

Terrible (1%)

EH

Elvira Holguin, Others

5

Great presentation

NM

Nicole Mehr, CPA (US)

5

Great Experience

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Defined Contribution Plan CPE Course

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