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Alternate Designs for Defined Contribution and Defined Benefit Plans

4.3 (62)

Steve Abramson, CPC, CLU, ChFC

APS Pension and Financial

Tuesday, June 22, 2021 | 02:00 PM EDT

  • CMA
  • CPA (US)
  • CFA
  • CSA

2 Credits

FREE

Subject Area

Finance

Webinar Qualifies For

2 CPE credit of Finance for all CPAs

2 CPE credit for Certified Management Accountants (CMA)

2 PL credit for Chartered Financial Analyst (CFAs)

2 CE credit for Certified Senior Advisor (CSA)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

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 pay checks 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 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 webinar:

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

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 appropriate plan by taking compensation, age, service and impact on the business’ success under consideration.

Who Should Attend?

  • Certified Management Accountant
  • Certified Public Accountant
  • Certified Senior Advisor
  • CFO/Controller
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Directors of Finance
  • Finance Director
  • Finance Pros
  • Financial Planner
  • Finanical Analyst
  • Licensed Financial Advisor
  • Outsourced CFO
  • Senior Accountant
  • Young CPA

Testimonial

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(
    [no_of_record] => 62
    [average] => 4.2903
)
 

4.3

(62)
45%
40%
13%
2%
0%

EH

Great presentation

DH

Great presentation giving real details. Much more in depth than expected. Thank you!

JP

Great

AS

Great, low cost relevant webinar

RV

It was informative.

SS

Good information.