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Course Details

Advanced Social Security Topics - December 17, 2015 10am - 11am MT (Course Id 897)

NewRegistry
Author : Martha Shedden, CLIENTFIRST FINANCIAL, Principal
Course Length : Pages: 1 ||| Review Questions: 0 ||| Final Exam Questions: 1
CPE Credits : 2.0
IRS Credits : 0
Price : $79.95
Passing Score : 70%
Course Type: Text - NASBA Registry
Technical Designation: NonTechnical
Primary Subject-Field Of Study:

Business Management & Organization - Business Management & Organization for Course Id 897

Description :

For Baby Boomers, the effect of an educated, well-timed Social Security income election decision can lead to an increase in retirement standard of living and longevity of portfolios. Often the claiming rules and strategies can be quite complex for certain cases.

Clients may have special situations such as, working while collecting Social Security, a pension from non-covered employment (e.g. government employees), or caring for a disabled child, that make the Social Security decision more complicated.

This 2-hour course will provide you with detailed knowledge about the Advanced Social Security topics that are not so frequently encountered, but must be understood to provide accurate, in-depth advice when offering Social Security and retirement income planning services to a broad base of clients.

Usage Rank : 0
Release : 2015
Version : 1.0
Prerequisites : Basic understanding of the Social Security system.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Advance Preparation : None.
Delivery Method : Group: Internet-based.
Intended Participants : Tax Professionals: CPAs, Enrolled Agents.
Financial Professionals: CFP, IAR, Life and Annuity Agents, CLU, CPRC, CFS, ChFC, CIC, and CIMA.
Revision Date : 14-May-2015
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

Text - NASBA Registry - 897

Keywords :
Learning Objectives :

After attending this webinar you will be able to:

  • Explain how the WEP calculation affects a workers Primary Insurance Amount
  • Differentiate between those people affected by the WEP and GPO rules
  • Evaluate a case study for the Earnings Test
  • Describe the Family Maximum Benefit, FMB
  • Estimate the FMB for a given case example
  • Calculate the effect the GPO will have on a claimants Social Security income
  • Calculate the WEP PIA and the resulting Social Security benefit for a sample case
  • Identify the optimal Social Security claiming decision between two given sets of circumstances
  • Recall the factors that determine whether Domestic Partners are eligible for Social Security benefits
  • Summarize the factors that determine eligibility for domestic partners to collect Social Security under the spousal rules and strategies

Course Contents :

1.       Who is affected by the Windfall Elimination Provision, WEP

2.       How WEP is calculated and how it affects the claimant’s Social Security income

3.       Who is affected by the Government Pension Offset, GPO

4.       How GPO is calculated and its impact on the claimant’s Social Security income

5.       When the Earnings Test rule applies to claimants and the specific thresholds of income earnings to watch for

6.       The truth about a common misunderstanding of the Earnings Test rule

7.       What the Family Maximum Benefit (FMB)  is and who it applies to

8.       Examples of the FMB related to dependent and disabled children, ex-spouses, parents and survivorship benefits

9.       The basics about how Social Security claiming rules and strategies can apply to Domestic Partners, including a sample case study

10.   Resources, further education

11.   Conclusion

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