Course Outline:

Day 1: Introduction to Pension Plan Design

• Overview of pension plan design and its importance
• Key concepts and terminology in pension plan design
• Types of pension plans and their basic structures
• Case Study: Analyzing a sample pension plan design and identifying its key components and structure

Day 2: Defined Benefit Plan Design

• Detailed exploration of defined benefit (DB) plans
• Key elements of DB plan design (e.g., benefit formulas, funding requirements)
• Actuarial considerations and risk management
• Case Study: Designing a defined benefit plan for a hypothetical organization, including benefit calculations and funding strategies

Day 3: Defined Contribution Plan Design

• Overview of defined contribution (DC) plans
• Key components of DC plan design (e.g., contribution rates, investment options)
• Plan features, participant education, and communication
• Case Study: Creating a defined contribution plan design, including contribution structures and investment options, for a sample company

Day 4: Hybrid and Alternative Pension Plan Designs

• Introduction to hybrid plans (e.g., cash balance plans, pension equity plans)
• Advantages and disadvantages of hybrid plans
• Exploration of alternative pension plans (e.g., multi-employer plans, governmental plans)
• Case Study: Designing a hybrid pension plan for a diverse workforce and evaluating its impact on plan participants

Day 5: Compliance, Implementation, and Communication

• Regulatory requirements and compliance considerations in pension plan design
• Best practices for implementing and managing pension plans
• Strategies for effective communication of pension plans to employees and stakeholders
• Case Study: Developing a comprehensive plan implementation and communication strategy for a new pension plan, including compliance checks and employee outreach materials