Small-Business Retirement Plans Course

Your small-business clients represent a tremendous opportunity for the tax professional who has added financial planning to his or her practice. Most small-business owners do not have a retirement savings vehicle in place. In the first part of this two-part course, the basics of employer-funded business retirement plans, including SEP, profit-sharing and defined benefit plans, are covered. The focus is on the benefits of these plans to the small-business owner and his or her employees and why you would want to offer this solution for clients.

The second part of the Business Retirement Plan Basics course is an overview of employee-funded plans such as SIMPLE IRAs, 401(k)s and 403(b)s. It explains the differences in these plans and elaborates on the type of client for whom they are appropriate. The purpose is to help you feel more comfortable talking to clients about business retirement plans.

Objectives

At the conclusion of this course you will be able to answer the following questions:

What are the key benefits of offering business retirement plans for the Advisor?
What are the key benefits of a business retirement plan to an employer?
What types of compensation are used to calculate retirement plan contributions?
Who is a good candidate for a SEP?
What are the eligibility, contribution, vesting, reporting and withdrawal requirements for a SEP?
Who would most likely use a money purchase plan?
Who are defined benefit plans good for?
What is the downside to defined benefit plans?
Who is a good candidate for a SIMPLE IRA?
What are the options for making a SIMPLE IRA contribution for employees?
Who is the “individual 401(k)” appropriate for?
What are the two types of 403(b)s?
Who is a good candidate for a 401(k) plan?

Prerequisites / Advanced Preparation / Program Level

There is no advanced preparation needed for this series, but note that it is helpful to complete Part 1 first. This is a basic level course meant to be an overview.

This Small-Business Retirement Plan course qualifies for two CPE credits that can be applied toward the requirements of a CPA, CFP^® , CLU or ChFC designations. Additionally, it qualifies for one CPE credit that can be applied to an EA designation. To receive CE credit, both parts must be completed and the exam submitted.

Time

This session takes approximately one hour to complete.

Delivery /Registration

The Business Retirement Plan series is a prerecorded session that can be accessed at any time.

Begin Small Business Retirement Plans Course (Requires Adobe® Flash)