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I. GENERAL DESCRIPTION

A. Date Adopted March 2010

B. Department Business

C. Course Number SUPV 240

D. Course Title Introduction to Retirement Planning

E. Course Outline Preparer Dr. Settles

F. Department Chairperson David Dore

II. COURSE SPECIFICS

A. Hours Lecture – 3 weekly (52.5 total)

B. Units 3

C. Prerequisites None

Corequisites None

Advisories None

D. Course Justification The field of retirement planning has changed drastically over the last 25 years. This course will provide City College’s current students and the community with retirement planning tools. This course will meet the rising community and student demands for a class to prepare students for life after leaving the workplace. This introduction course represents one of four future courses that will allow City College students to prepare for national certification as retirement counselor and/or administrator. This course will be offered by the Supervision and Management program.

E. Field Trips No

F. Method of Grading Letter, Pass/No Pass

G. Repeatability 0

III. CATALOG DESCRIPTION

This course explores the fundamentals of retirement planning including but not limited to initial savings, investment decisions, withdrawals at retirement age, working during retirement, non employment emotional outlets and managing expectations. Examines strategies for developing an effective individual retirement plan that will enable students to effectively prepare for retirement whether the retirement date is a short or long term goal.

CCSF, Business, Supervision 240, Introduction to Retirement Planning, March 2010, page 1 of 4

IV. MAJOR LEARNING OUTCOMES

Upon completion of this course a student will be able to:

A. Evaluate the steps in the retirement planning process.

B. Evaluate the characteristics of major sources of retirement income.

C. Explore how to integrate social security, employer based retirement plans and personal retirement plans into an individual plan.

D. Analyze the roles of vesting, spousal issues, various retirement savings vehicles in developing an effective retirement plan.

E. Summarize the major types of non-financial retirement considerations in planning for retirement.

F. Assess risk factors along with pros and cons of various insurance options.

G. Describe tax savings strategies.

H. Evaluate estate-planning concepts of probate, home ownership, estate distribution, gift taxes, wills, and trusts.

I. Analyze cases to calculate an estimate of retirement savings needed based on age groups.

J. Describe the issues surrounding withdrawal and distribution alternatives from retirement plans and its personal impact on the individual and the family unit.

K. Assess health care needs of retirees along with other post retirement issues.

V. CONTENT

A. The Financial Planning Process

1. Goal setting

2. Life cycle factors influencing goal setting

3. Perform time value of money calculations

B. Sources of Retirement Income

1. Social security and personal retirement savings

2. Employer based plans

C. Important Considerations in Retirement Planning

1. Work during retirement

2. Issues for married couples

3. Retirement portfolio

D. Budgeting

1. Financial statements

2. Three stages of budgeting

3. Life cycle considerations

E. Non-financial Retirement Considerations

1. Finding satisfaction and fulfillment in retirement

2. Lifestyle transition

3. Changes in family dynamics

CCSF, Business, Supervision 240, Introduction to Retirement Planning, March 2010, page 2 of 4

F. Managing Debt

1. Types of credit

2. Costs of credit

3. Credit offer analysis

G. Risk Management

1. Risk and insurance

2. Life insurance planning

3. Health care planning

H. Income Tax Strategies

1. Your tax bill

2. Tax reduction strategies

3. Retirement and taxes

I. Estate Planning Basics

1. Estate planning tools

2. Gifts

3. Estate planning strategies

J. Retirement Planning Across the Life Cycles

1. Characteristics of different age groups

2. Obstacles to planning

3. Life cycle tables

K. Pre and Post Retirement Counseling

1. Retirement plan withdrawals

2. Counseling issues during retirement

3. Human factors

L. Issues During Retirement

1. Health insurance

2. Inflation

3. Changing uses of money

VI. INSTRUCTIONAL METHODOLOGY

A. Assignments

1. In-class Assignments

a. Class discussions

b. Case studies

c. Presentations from expects in the field

d. Small group discussions on relevant class issues such as, “Health Care Planning?”, “How do I prepare for the obstacles of retirement planning?”, “What are the five (5) key non-financial issues I need to address prior and during retirement?”, “How do I create a budget?”, “How do l address my debt?”

CCSF, Business, Supervision 240, Introduction to Retirement Planning, March 2010, page 3 of 4

e. Role plays and case analyses such as, sharing with significant family members your plans to retire and the impact of this decision on the family unit; young married couple is approached by a life insurance carrier to purchase life insurance, analyze the factors the couple should explore prior to making a final decision.

1. Out-of-class Assignments

a. Complete a personal retirement plan

b. Interview a current retiree preparing a written report identifying mistakes made prior to retiring along with good decisions executed, ending with the challenges anticipated

c. Develop a journal recording new concepts, ideas, personal retirement decisions along with the human factors and reflections impacting each student’s personal retirement plan

d. Complete reading assignments

B. Evaluation

1. Class participation including discussions and role-playing assessing students understanding and critical analysis of topics and questions presented

2. Out-of-class written reflections and homework assignments assess each student based on the student’s ability to identify retirement strategies and concepts

3. Midterm on topics such as: discussion of laws (ERISA, Social Security) that shape a retirement plan, review of financial concepts (three legged stool, saving early and often, personal balance sheet, income and expense statement, personal and family budget, role of financial record keeping)

4. Final exam assesses the student’s knowledge and ability to synthesize course materials on topics such as: major challenges and rewards in developing a personal retirement plan, role of budget/debt in a successful retirement plan

C. Textbooks and other Instructional Materials

1. International Foundation for Retirement Education, Fundamentals of Retirement Planning, InFre, 2009

2. Supplemental Books, such as Margaret Jasper, Retirement Planning, Oxford University Press, 2009; Lois Fishman, Living Well in Retirement, Odyssey Press, 2009; Joseph Matthews, Social Security, Medicare and Government Pensions, Barnes and Noble Press, 2009; Jane Bryant Quinn, Making the Most of your Money, Simone Schuster, 2010; Suze Orman, The Money Book for the Young, Fabulous, and Broke, Riverhead Books, 2008; Suze Orman, The Road to Wealth, Random House, 2009; Suze Orman, Action Plan, Random House, 2010

CCSF, Business, Supervision 240, Introduction to Retirement Planning, March 2010, page 4 of 4

3. Supplemental readings such as the Wall Street Journal, Kiplinger Letter, Forbes, Money, and Smart Money

VII. TITLE 5 CLASSIFICATIONCREDIT/DEGREE APPLICABLE (meets all standards of Title 5. Section 55002(a)).

CCSF, Business, Supervision 240, Introduction to Retirement Planning, March 2010, page 5 of 5

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