Overview
Participants in this program will have a clear understanding of the operation of defined benefit plans allowing them to more effectively advise clients and make recommendations. Although rules for defined benefit plans are complex the basics are key, enabling advisors to understand the company profiles that best fit this plan design.
Why you should Attend
This program summarizes and describes the core provisions of a Defined Benefit Plan, funding, and benefit concepts, with examples and review of alternate forms of defined benefit plans.
Areas Covered in the Session
- What company profile best fits adoption of a defined benefit plan
- How are contributions determined
- Are contributions mandatory every year and if so at what level
- Is there a limit on contributions
- What is a cash balance plan
Who Will Benefit
Speaker Profile
Stephen Abramson is the President and founding partner of APS Pension Services, LLC 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 a previous relationship with a Broker/Dealer.
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.
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 updated with the 2021 eighth 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
Instructor
Stephen Abramson