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National College Credit Recommendation Service

Board of Regents  |  University of the State of New York

FSRI (Fellow, Secure Retirement Institute) Program

Descriptions and credit recommendations for all evaluated learning experiences

Location:
Independent study and proficiency examination program administered from the central offices of LOMA.
Length:

Varies-independent study. 

Dates:
November 2014 – Present.
Objectives:

Upon successful completion of this course, students will be able to: outline important decisions people face as they near retirement―including when to retire, where to retire, and how to ensure a successful retirement and the strategies they can use to optimize the outcomes of those decisions; describe the personal goal setting process, recognize effective methods for managing savings and spending habits, and develop an investment plan based on personal characteristics such as risk tolerance and investment concepts such as asset allocation and diversification; describe how Social Security benefits are determined, explain the methods people can use to turn pre-retirement savings into a steady stream of retirement income, and understand how regulatory requirements and taxes affect withdrawal rates from qualified and nonqualified sources of retirement income; explain how inflation and longevity influence a person's retirement income needs, and the methods people use to determine income needs at retirement; describe the tax consequences of receiving benefits from a tax-advantaged retirement plan in a lump-sum distribution; recognize the importance of managing cash inflows and outflows during retirement and explain the strategies people can use to manage credit and cash flows; explain how insurance can help manage retirement risks such as health risks, mortality/longevity risks, and property/liability risks by transferring some or all of the financial losses associated with those risks to another party; and explain how wills are used to transfer property, the key people involved in creating and administering a will, and the requirements of a valid will.

Instruction:
Planning for a Secure Retirement is an online interactive course that describes the tools and other resources people can use to create a retirement plan that helps them reach their retirement goals, outlining steps in the planning process and behavioral factors that explain why people should create retirement plans, It also describes some of the important components of a comprehensive retirement plan, including decisions facing people as they near retirement and strategies they can use to accumulate assets and then turn those assets into a steady stream of retirement income.
Credit recommendation:

In the lower division baccalaureate/associate degree category OR in the upper division baccalaureate degree category, 3 semester hours in Business Administration (11/14) (3/20 revalidation).

Location:

Various; distance learning format.

Length:

Varies; independent study. 

Dates:

March 2016 - Present. 

Objectives:

Upon successful completion of this course, students will be able to: describe the primary stakeholders, processes, activities and documents involved in the administration of retail and institutional retirement business; discuss the impact of regulation, quality control measures, risk management, and information technology on retirement administration; explain how companies organize resources for retirement administration activities; describe how annuities and IRAs are established and administered; explain the recordkeeping processes for participant accounts in retirement plans; describe the ongoing compliance requirements for retirement plans; and discuss the reporting and disclosure activities associated with annuities, IRAs, and retirement plans.

Instruction:

Retirement Administration (SRI 230) is an online interactive course that delivers knowledge about administration functions for existing retirement accounts, products, and plans. Learners are guided through in-force retirement business activities, beginning when an account or a case takes effect and continuing to termination of the case or account.  The course describes business acquisition activities, customer experience design using behavioral finance, contact center administration and compliance, and routine transactions for individuals and plan sponsors.

Credit recommendation:

In the upper division baccalaureate degree category, 3 semester hours as a Business Administration or Insurance elective (11/17).

Location:
Independent study and proficiency examination program administered from the central offices of LOMA.
Length:

Varies-independent study.

Dates:
November 2014 – Present.
Objectives:

Upon successful completion of this course, students will be able to: identify the stakeholders in a retirement system and describe the three pillars of a retirement system; describe the financial industry's role in the retirement system and distinguish between institutional and retail retirement markets; explain Social Security program benefits, funding, and challenges; describe retirement savings in workplace retirement plans; describe the importance of individual resources to having sufficient retirement income; describe personal financial risks often faced during the working years and retirement; describe financial literacy and important financial concepts such as the time value of money, including future value, present value, and the Rule of 72; describe the process of developing a financial plan; explain the types of risks involved in investing; and explain the steps in the portfolio creation process.

Instruction:
Retirement Marketplace is an online interactive course that provides an overview of the retirement savings and income environment, with descriptions of the income needs and available resources of consumers during their pre-retirement and retirement years.
Credit recommendation:

In the lower division baccalaureate/associate degree category OR in the upper division baccalureate degree category, 3 semester hours in Business Administration (11/14) (3/20 revalidation).

Location:

Various; distance learning format.

Length:

Varies; independent study. 

Dates:

September 2015 - Present. 

Objectives:

Upon successful completion of this course, students will be able to: describe the primary stakeholders in the retirement marketplace and the role each plays in providing retirement solutions; explain the marketing principles and the strategies companies use to segment markets, differentiate their brand or products to gain competitive advantages, and position themselves in the retirement market; describe the product development process and primary product development strategies; describe how provider companies design and install retirement plans in retail and institutional markets; explain the regulatory requirements for the design of qualified retirement plans; describe annuity product design and annuity new business processing; describe the business acquisition process in both institutional and retail markets, including the roles and actions of major participants in the distribution process; describe the personal selling process, its benefits, disadvantages, and unethical sales practices, compensation methods, contract negotiation, and contract implementation; identify the steps involved in measuring product/plan performance and evaluating customer satisfaction; and explain how successful customer experience management (CEM) programs help create, maintain, and manage long-term relationships with retail and institutional customers.

Instruction:

Retirement Marketing and Business Acquisition (SRI 220) is an online interactive course that introduces the companies and individuals involved in retirement marketing. It takes learners through the general steps in the business acquisition process for both institutional and retail retirement markets, with a primary focus on technical design and distribution strategies. The course also examines strategic marketing issues such as government policies, consumer behaviors, and economic conditions.

Credit recommendation:

In the lower division baccalaureate/associate degree category, 3 semester hours as a Business Administration or Insurance elective (11/17).

Location:

Independent study and proficiency examination program administered from the central offices of LOMA.

Length:

Varies- independent study. 

Dates:

November 2014 - Present. 

Objectives:

Upon successful completion of this course, students will be able to: differentiate between the various types of annuities and investments and describe how each type of annuity and investment can be used as a retirement product; explain how annuities and investments are taxed under U.S. federal tax laws; differentiate between an individual retirement account and an individual retirement annuity and between a traditional individual retirement arrangement (IRA) and a Roth IRA; identify who can contribute to a traditional IRA and a Roth IRA and describe how contributions to, and distributions from, these products are treated for federal tax purposes; describe the advantages and disadvantages of non-qualified annuities, investments, traditional IRAs, and Roth IRAs as retirement products; identify the general rules that apply to the taxation of qualified retirement plans; differentiate between a defined benefit plan and a defined contribution plan and between a pension plan and a profit sharing plan, as well as among plans within each category; explain the qualification requirements of all qualified plans and of certain types of qualified plans; discuss the advantages and disadvantages of investing in stocks, mutual funds, and bonds for retirement; and describe the primary advantages and disadvantages of using personal investments as retirement savings and income products.

Instruction:

SRI 121 is an online interactive course that describes the range of individual and group products and plans that individuals use to save and/or provide an income for retirement, as well as their advantages and disadvantages for taxation. Various types of annuities, individual investments, IRAs, and employer-sponsored retirement plans are examined in detail.

Credit recommendation:

In the lower division baccalaureate/associate degree category OR in the upper division baccalaureate degree category, 3 semester hours in Business Administration (11/14) (3/20 revalidation). 

Location:

Various; distance learning format.

Length:

Varies; independent study. 

Dates:

June 2015 - Present. 

Objectives:

Upon successful completion of this course, students will be able to: educate customers about post-retirement risks and recommend specific solutions; describe the different sources of retirement income, such as Social Security retirement. benefits, tax-advantaged retirement plans, IRAs, investments, and nonqualified annuities; explain important decisions that individuals generally must make with regard to each source; explain the importance of Medicare insurance, Medigap policies, and Long-Term Care Insurance (LTCI) policies in a retirement income plan; evaluate an individual’s or couple’s retirement readiness and recommend solutions to a potential retirement shortfall; explain how this evaluation can be performed with and without the use of retirement planning calculators; describe income-generating strategies used in the decumulation phase, such as the systematic withdrawal strategy, the bucket strategy, and the flooring strategy; explain the importance of asset allocation and periodic rebalancing during retirement; explain why a retiree would want stocks, bonds, and/or mutual funds in his or her retirement investment portfolio and describe the risks each poses; and discuss the requirements an individual retirement account and an individual retirement annuity must meet to qualify for favorable federal tax treatment, including contribution requirements and minimum distribution requirements.

Instruction:

Successful Retirement Outcomes (SRI 210) is a highly interactive online course that describes the importance of retirement income planning in the decumulation phase of retirement. Learners will gain knowledge of the essential steps in retirement income planning, including how an individual or couple calculates the amount of income needed to satisfy retirement goals; evaluates income sources and expenses to determine whether a shortfall exists; and then develops, implements, and monitors a strategy for generating income and protecting assets.

Credit recommendation:

In the associate/certificate degree category, 3 semester hours as a Business Administration or Insurance elective (11/17).

Location:

Various; distance learning format.

Length:

Varies; independent study. 

Dates:

April 2017 - Present. 

Objectives:

Upon successful completion of this course, students will be able to: describe the three pillars of a retirement system and the regulatory structure supporting the United States retirement system; recognize significant United States retirement laws and regulations; describe the components of gross domestic product (GDP) and explain how changes in GDP and a population's standard of living affect economic growth and ultimately retirement outcomes; compare the United States retirement system to the retirement systems in Japan, Chile, Canada, the Netherlands, and Australia; explain how Social Security, financial products, and financial advice impact retirement security in general, and more specifically, women and minority populations; explain measures of successful defined contribution (DC) and defined benefit (DB) retirement plan outcomes and describe the effects the regulatory environment, working longer, and the economy can have on retirement plan outcomes; and describe the beneficial effects of GDP growth for stakeholders in the economy, including individuals and households, business organizations, and government, and the retirement system, as well as strategies for GDP growth through innovation.

Instruction:

Transforming Retirement Security (SRI 500) is a blended learning course that examines how the U.S. retirement system, as well as retirement systems in selected countries, attempt to provide retirement security. It presents the regulatory structure and economics that support the U.S. retirement system; examines forces and trends challenging retirement systems to provide retirement security; and explores the potential for innovation and transformation in the retirement systems of the future.  Instructional format includes the following: a media-rich, interactive online learning experience that reviews the three pillars of the retirement system and introduces the regulatory structure of the U.S. retirement system; a traditional textbook-based study experience covering retirement system economics, policy, and demographics and the potential for transforming retirement outcomes; and a graded application assignment that requires learners to demonstrate their ability to think innovatively about the future of retirement systems by analyzing an article or case study, or conducting research.

Credit recommendation:

In the upper division baccalaureate degree category, 3 semester hours as an elective in Business Administration, Insurance, or Economics (11/17). 

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