Description

Clients often ask accounting and finance professionals whether they have the "best" pension plan and whether they are using it to its maximum advantage. This program explains how various pension plans work and analyzes why a small or medium-sized business owner would choose one plan over another.

Instructor: Mike Tucker, Ph.D., LL.M., J.D., CPA

Target Audience

Accounting and finance professionals who will advise a business owner about selecting a pension plan for their business

Course Objectives

Understand the advantages and disadvantages of the major pension-planning options for small- and medium-sized business owners

Help clients evaluate pension plan options and select the best pension-planning option for them

Subjects

Factors business owners should take into account when choosing a retirement plan

SIMPLE plans

Simplified employee pension plans

401(k) plans

Defined benefit plans

Ensuring eligible employees are covered

Employees’ impact on choice of plan

Ongoing compliance requirements

Establishing a plan after the tax year end

Changes to safe harbor 401(k) plans

Pooled employer plans

Defined benefit plans and cash balance plans

Prerequisites

Basic individual income taxation rules