Course Overview:
This comprehensive course offered by IRES is designed to provide a detailed understanding of various pension plan structures and types. Participants will explore the features, advantages, and disadvantages of different pension plans, including defined benefit plans, defined contribution plans, hybrid plans, and other variations. The course combines theoretical knowledge with practical case studies to help participants grasp the complexities of pension plan design and management.
Course Duration:
5 Days
Target Audience:
- HR Professionals
- Benefits Administrators
- Pension Fund Managers
- Financial Analysts
- Investment Advisors
Personal Impact:
- Gain a thorough understanding of different pension plan structures and their features.
- Develop the ability to compare and contrast various pension plans based on organizational needs.
- Enhance skills in designing and managing pension plans effectively.
- Build confidence in advising on pension plan options and changes.
Organizational Impact:
- Improved ability to select and implement appropriate pension plans for the organization.
- Enhanced knowledge for managing pension plan structures and compliance.
- Better-informed decision-making regarding pension plan design and modifications.
- Increased efficiency in communicating pension plan options to employees.
Course Level:
Course Objectives:
- Understand the different types of pension plans and their structures.
- Learn the advantages and disadvantages of each pension plan type.
- Develop skills to assess and select the most suitable pension plans for various organizational needs.
- Apply knowledge to practical scenarios involving pension plan design and management.
- Enhance ability to communicate pension plan options and details effectively.
Course Outline:
Day 1: Overview of Pension Plan Structures
- Introduction to pension plans and their purpose
- Key concepts and terminology (e.g., accrual rate, vesting, funding)
- Basic structures of pension plans
- Case Study: Identifying the structure of a sample pension plan and discussing its key features
Day 2: Defined Benefit Plans
- Detailed examination of defined benefit plans
- Features, advantages, and disadvantages
- Calculation of benefits and funding requirements
- Case Study: Analyzing a defined benefit plan, including benefit calculations and funding strategies
Day 3: Defined Contribution Plans
- In-depth look at defined contribution plans
- Types of defined contribution plans (e.g., 401(k), 403(b))
- Contribution limits, investment options, and withdrawal rules
- Case Study: Evaluating a defined contribution plan’s features and performance, and comparing it with defined benefit plans
Day 4: Hybrid and Other Pension Plan Types
- Overview of hybrid plans (e.g., cash balance plans, pension equity plans)
- Comparison of hybrid plans with defined benefit and defined contribution plans
- Other variations (e.g., multi-employer plans, governmental plans)
- Case Study: Designing a hybrid pension plan for a hypothetical company, including benefits and risk analysis
Day 5: Pension Plan Selection and Communication
- Criteria for selecting appropriate pension plans based on organizational needs
- Considerations for plan design and implementation
- Best practices for communicating pension plan options to employees
- Case Study: Developing a plan selection and communication strategy for a new pension plan, including employee-facing materials and internal guidelines
Related Courses
Course Administration Details:
METHODOLOGY
The instructor-led trainings are delivered using a blended learning approach and comprise presentations, guided sessions of practical exercise, web-based tutorials, and group work. Our facilitators are seasoned industry experts with years of experience, working as professionals and trainers in these fields. All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.
ACCREDITATION
Upon successful completion of this training, participants will be issued an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).
TRAINING VENUE
The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments, and lunch. All participants will additionally cater to their travel expenses, visa application, insurance, and other personal expenses.
ACCOMMODATION AND AIRPORT PICKUP
Accommodation and airport pickup are arranged upon request. For reservations contact the Training Officer.
- Email: [email protected]
- Phone: +254715 077 817
TAILOR-MADE
This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location. For further inquiries, please contact us on:
- Email: [email protected]
- Phone: +254715 077 817
PAYMENT
Payment should be transferred to the IRES account through a bank on or before the start of the course. Send proof of payment to [email protected]
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