Course Outline:

Day 1: Introduction to Pension Administration

• Overview of pension administration and its role in plan management
• Key concepts and terminology in pension administration
• Understanding different types of pension plans and their administration requirements
• Case Study: Analyzing a sample pension plan's documentation and identifying key administrative tasks

Day 2: Plan Documentation and Compliance

• Essentials of pension plan documents (e.g., plan summaries, SPDs, and plan amendments)
• Regulatory requirements and compliance (e.g., ERISA, Pension Protection Act)
• Best practices for maintaining and updating plan documentation
• Case Study: Reviewing and updating a sample pension plan document to ensure compliance with regulatory standards

Day 3: Benefit Calculations and Administration

• Methods for calculating pension benefits (e.g., defined benefit formulas, account balance calculations)
• Understanding vesting schedules, benefit accruals, and payouts
• Handling common benefit scenarios (e.g., retirement, disability, death)
• Case Study: Performing benefit calculations for different participant scenarios, including retirement and early withdrawal

Day 4: Participant Communication and Support

• Best practices for communicating pension plan details to participants
• Creating clear and informative communication materials (e.g., benefit statements, newsletters)
• Addressing participant inquiries and resolving common issues
• Case Study: Developing a communication plan and materials for explaining a recent change in pension benefits to employees

Day 5: Implementation and Real-Life Application

• Strategies for implementing effective pension administration practices
• Case studies and real-life projects involving complex administration scenarios
• Developing an action plan for improving pension administration within participants' organizations
• Case Study: Collaborative project to address a complex pension administration issue and present proposed solutions and implementation steps