Pensions and retirement savings used to be a relatively straightforward area for HR professionals.
While still a very important element of employee compensation, the landscape of pension and retirement savings has become much more complex.
Longer life expectancies and workplace demographics that often skew toward the more mature end of the spectrum are also complicating factors. And as pension law and regulation continue to evolve, a good understanding of the legal framework, best practices and risk management is critical to successful plan administration.
In this certificate course, master one of the most important elements of employee compensation and learn how to make your firm's programs as efficient as possible. This is an invaluable opportunity to further your career and enhance your company's effectiveness by becoming an expert in the area of pension and retirement savings.
What is the course format?
This certificate program combines live virtual instruction through CPBI, with experiential learning through case studies, scenarios, group discussions and simulations.
Live Virtual Sessions: There will be online instructor-led modules, during which practical examples and experiences will be shared.
Materials: Participants will be provided with session workbooks and documents to follow along with the content covered in each module and to take notes, as well as additional pre-session and post-session assignments to prepare for the simulations.
Peer Learning and Group Work: Participants will have the opportunity to learn from each other while answering questions and sharing experiences and observations during the modules, as well as through practical, hands-on exercises and simulations based on real-world events and processes.
Time Commitment: This four-day certificate program will be delivered in eight modules. Participants will spend four (4.5) hours each day participating in the virtual sessions and accompanying exercises and simulation activities. Over the duration of the course, participants can expect to spend an additional three (3) hours completing work outside of the daily sessions, either in break out groups with peers or individually preparing for case study debriefs or simulation participation. The in-class virtual modules will be held as follows:
Intro/Welcome – Monday March 22nd, 2021 (9:30 am – 10:00am EST)
Module 1 - Monday March 22nd, 2021 (10:00 am – 12:00 pm EST)
Module 2 - Monday March 22nd, 2021 (2:00 pm – 4:30 pm EST)
Module 3 – Wednesday March 24th, 2021 (10:00 am – 12:00 pm EST)
Module 4 - Wednesday March 24th, 2021 (2:00 pm – 4:30 pm EST)
Module 5 – Monday March 29th, 2021 (10:00 am – 12:00 pm EST)
Module 6 - Monday March 29th, 2021 (2:00 pm – 4:30 pm EST)
Module 7 – Wednesday March 31st, 2021 (10:00 am – 12:00 pm EST)
Module 8 - Wednesday March 31st, 2021 (2:00 pm – 4:00 pm EST)
What will I learn?
After completing the certificate program, participants will have the skills and information required to:
- Gain an understanding of the legal and regulatory framework that applies to pension and other retirement savings plans.
- Learn tips on best practices in plan administration and governance.
- Get strategies to reduce risk and liability in plan administration.
- Develop an understanding of investment and plan structure principles across different plan types
Who should attend?
HR professionals/Executives, VPs/Directors/Managers of Human Resources, HR generalists, Pension Committee Members, Boards of Trustees, C-suite Executives. Head of Finance, Finance Managers, Analysts, Pension Specialists, HR Consultants, Business Owners.
What is covered?
During this four-day, eight-module virtual experience, participants will collaborate with peers through instruction, case studies, scenarios and simulations that include:
Key Concepts – DC Plans, DB Terminology, Plan Funding, De-Risking, Actuarial Assumptions
- An overview of the terminology and tax rules
- Actuarial funding and valuations
- Investment rules and regulations
- De-risking options and trends
Key Concepts - Defined Contributions & Retirement Savings Plans
- Overview of plan types and considerations for each
- Defined Contribution plan sponsor best practices
- Global & Canada DC Industry Trends
- Improving Member outcomes
Investment Concepts Explained - for DB & DC Plans
- Investment asset classes & strategies explained
- DB vs. DC plans, from an investment perspective
- Investment fund/manager selection for DB plans
- Investment fund/manager selection for DC plans
- Investment trends and insights
Best Practices in Plan Administration & Communications
- Administration & communications overview
- Best practices for all organization types & size
- Identify common administration pitfalls
- The importance of getting clear and accurate communications
- Communications in a post-COVID world
Plan member’s transition to retirement
- The state of the plan member today
- Helping your members address the retirement gap
- Decumulation product trends and insights
- Improving Member outcomes
- Communications policies and best practices for retiring employees
Technology & Innovation
- Technology's place from a plan sponsor's perspective
- Trends and insights
- Technology practices to enable the modern organizations
- Cyber Security Update & best practices
Governance & Risk Management
- Overview of government administered pension programs
- Types of employer sponsored retirement plans
- Basic principles of plan governance
- Risk management and best practices in plan governance
Regulatory Compliance for Plan Sponsors & Administrators
- An overview of the complex web of legislation applicable to pension plans
- Minimum standards governing member entitlements and compliance
- Common plan administration issues
- The importance of member communications