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The coverage of health care benefits begins with a discussion of the environment of health care and health care plans, followed by health plan designs and cost-control techniques.
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Following coverage of the various forms of life insurance benefits provided through the employment relationship, GBA 2 examines a wide variety of other welfare benefits including: dependent care and family leave benefits; work/life benefits—such as financial planning, adoption assistance, legal services, and education assistance; and vacation and other time-off benefits.
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This course focuses on individual retirement needs, employer-sponsored programs, and plan design considerations. Additionally, an overview of retirement plans, the primary provisions of Social Security, and the fundamental characteristics of tax-qualified plans are explained. An in-depth examination of 401(k) plans is provided, with additional coverage of the unique features of 403(b) and 457 plans found in the nonprofit and public sectors. Requirements mandated by the Pension Protection Act of 2006 also are included in the course.
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This course examines approaches to enhancing retiree financial security. The impact of various types of retirement planning structures and the importance of effectively managing retirement assets are discussed. The course focuses on investment principles in accumulating retirement wealth and the essentials of fiduciary oversight and plan governance by plan sponsors. The course explores the appropriate use of individual retirement accounts (IRAs), Keoghs, defined benefit structures and other types of retirement savings plans. Use of these retirement savings programs are examined both during the accumulation phase prior to retirement and during the distribution phase once retirement begins. Requirements mandated by the Pension Protection Act of 2006 also are included in the course.
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Employee benefits continue to be an integral part of the human resources and compensation management functions of an organization. The first part provides an overview of human resource management, including a discussion of internal and external factors affecting supervision. Issues related to creating effective training and development programs and dependable performance assessment systems are emphasized. The course continues with assignments covering such topics as incentive programs, total compensation approaches and strategies for their implementation, and employee rights, discipline, discharge and termination situations.
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This course provides a framework for understanding various types of compensation approaches. The course begins by presenting a pay model outlining strategic compensation objectives, policies that form the foundation of a compensation system, and alternate techniques that can be used in paying employees. The course distinguishes between job-based and person-based pay structures and the ongoing management functions that maintain internal alignment, enhance organizational competitiveness, and create employee incentives within these various types of pay systems. Methods for decision-making regarding pay level, pay mix and pay structures are explored. Various pay-for-performance plans are explained along with research evidence concerning their effectiveness in motivating employees and achieving business objectives. The course also examines the compensation of special groups, external market forces that impact compensation, the collective bargaining process, and the role of government and legal compliance issues in determining compensation practices.
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The course introduces asset management in the context of setting investment objectives for pension plan assets. The course then provides the necessary background on financial markets, how they are organized and how they operate. The concepts of risk versus return and efficient markets and the impact of modern portfolio theory are presented, followed by a detailed discussion on bonds, stocks and derivatives. The discussion is interwoven with the various approaches, some controversial used by investors in analyzing and evaluating these instruments and the overall performance of specific financial markets.
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The course begins with an introduction on how economic decisions are made. It presents an overview of the health care systems in the United States and other countries and discusses the role of third-party payers and their reimbursement methods. Microeconomic principles and concepts show the relationship between medical care cost and firm size and are used to develop a short-run and long-run production theory for medical services.
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CMS 3 : Executive Compensation and Compensation Issues This course presents an overview of executive compensation issues and practices. The course begins with an explanation of organizational approaches in determining which employees comprise the executive group. The course proceeds to describe components of executive compensation including direct pay, employee benefits, perquisites, short-term incentives, and long-term incentives. The crucial design element of balancing current versus deferred incentives is addressed along with performance measurements and standards used in determining compensation awards. Tax and financial considerations are examined and put into context when applied to certain pay techniques. The role of the board of directors in establishing and monitoring executive compensation and the increased public scrutiny and accountability for excessive pay awards are discussed.
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PFP 1: Personal Financial Planning 1: Concepts and Principles This course describes the steps in the personal financial planning process and the importance of formulating quantifiable client objectives. It also reviews sources of information and tools used by the planner. Other assignments provide an overview of insurance, investments, retirement planning, income taxation and estate planning. Subsequent assignments concentrate on life and health programs, property and liability converges, long-term care plans, equity analysis, investment strategy, retirement investment products and planning strategies. This course also describes ethical issues and principles of professionalism for the financial planning practitioner.
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PFP2: Personal Financial Planning 2: Tax & Estate Plan.Techniques This course complements PFP 1 and presents viable tax strategies and planning approaches relevant to those who are accumulating assets, have established business interests or are attempting to minimize income taxation throughout their professional careers. The course begins with two assignments detailing the critical element of income tax planning, including tax law, fundamental tax principles and select transactions the Internal Revenue Code (IRC) allows for special treatment. Other assignments cover areas such as considerations surrounding retirement plan distributions, gift and estate taxes, tax-efficient college saving, the basic tax principles applicable to charitable giving, revocable living trusts and considerations regarding intergenerational planning for business interests. Additionally, the financial planning needs for specialized situations are examined, concluding with the essential elements of a comprehensive financial plan.
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