Curriculum & Credential Updates
• Education & Professional Development Catalog
• Credentialing Brochure
• QPFC Credential Examination Requirements - Effective 1/1/2012 
• Examination Syllabi
• 2012 Curriculum Changes

New Product Offerings
• Plan Financial Consulting (PFC) Certificate Program 
• Defined Benefit Administration (DB-A) Certificate Program
• PFC-1 Exam Delivery Format Change
• New & Updated Textbooks/Reference Materials
• The ERISA Outline Book – 2012 Print Edition Coming in March
• DC-1 & DC-2 Exams Offered Internationally
• Practice Examinations:
   o Certificate Program Online Practice Examinations
   o New Credentialing Program Practice Examinations Coming Soon 

Other Updates 
• Longer Examination Testing Windows
• Reminder – Educational Material Copyright 
• Distributable Educational Materials 
• Institutional/Corporate Training Offerings


Curriculum & Credential Updates

Education & Professional Development Catalog  [top]
Start early with planning your educational goals for 2012! 2012 pricing, required readings, details on each examination program and much much more is provided within. Download your copy today.

Credentialing Brochure  [top]
If you want a brief summary of ASPPA’s credentialing programs, then this is the piece for you. Whether you print and keep and copy yourself or send to a colleague, this brochure provides a quick overview of how ASPPA can meet your professional development goals and outlines in an easy to read condensed format the exams you need to obtain any ASPPA credential or certificate. Download today.

QPFC Credential Examination Requirements - Effective 1/1/2012 [top]
For information on the changes to the examination requirements for ASPPA’s QPFC credential, please visit www.asppa.org/qpfcupdates. 

Examination Syllabi  [top]
It is important to review the 2012 examination syllabi as it is a resource that outlines exactly what to study so you can be successful in your education pursuits. It includes the required reading (which there are changes for 2012), learning objectives, exam topic weightings and other useful information. Review the new syllabi online at www.asppa.org/education.

2012 Curriculum Changes [top] (Listed Alphabetically be Examination Name)

2012 CPC Curriculum Changes
Learning Objectives regarding the 10 percent additional income tax on early distributions have been removed.  Testing of these topics has also been adjusted accordingly.

Learning Objectives were added regarding participant fee disclosure legislation. These additions have been made to the module text but will not be in the proctored exam text until the 2013 version and therefore will not be immediately tested.

2012 DB Curriculum Changes
The DB Course has been updated for the 2012 course year to significantly reduce material relating to discrimination testing. Chapter on distributions has been updated for material relating to PPA benefit restrictions. Participant notice chapter has been updated for comparisons between different notices.

2012 DC-1 Curriculum Changes
The DC-1 curriculum has been updated to include a new reading requirement to address ethics.  The recommended reading is Lauren Bloom’s Elegant Ethical Solutions.

Testing of top-heavy topics has been slightly reduced and testing of compliance programs has been slightly increased.

2012 DC-2 Curriculum Changes
The DC-2 curriculum has been updated to include a new reading requirement to address ethics.  The recommended reading is Lauren Bloom’s Elegant Ethical Solutions.

Learning Objectives regarding the return of elective deferrals withheld under an automatic enrollment plan provision and compensation used in the ADP and ACP tests have been removed.  Testing of these topics has also been adjusted accordingly.

2012 DC-3 Curriculum Changes
The DC-3 Course has been updated for the 2012 course year to include the service provider fee disclosures that must be made, explain the consequences of not making said service provider fee disclosures, describe the correction process for some common corrections and understanding the mechanics of the 409(p) rules and how they impact an S-Corporation ESOP .

The chapter on compensation has been updated to include a discussion of how differential wage payments are treated for purposes of IRC §415 and IRC §414(s) compensation.

The ESOP chapter has been updated to include information regarding diversification under the PPA rules.

The chapter on distributions and life insurance has been updated to include a discussion of Qualified Optional Survivor Annuities and a discussion of rollover notice 2009-68

2012 PFC-1 Curriculum Changes
The PFC-1 Course has been updated for the 2012 course year to incorporate key concepts from the RPF-1 and RPF-2 material applicable to financial consultants. 

These changes include an overview of employee benefit plans and a comparison of the primary differences between a welfare benefit plan and a pension benefit plan. 

Information including the key documents that need to be prepared when implementing a retirement plan and the various communications to employees upon eligibility, including automatic enrollment have been added. 

IRS determination letter procedures, important plan document provisions and the consequences of plan disqualification have been revised.

Sections regarding annual additions, defined benefit plan distributions, in-service withdrawals and QPSA have been updated.

2012 RPF-1 Curriculum Changes
The RPF-1 curriculum has been updated for the 2012 course year to address Roth IRAs, in-plan Roth rollovers, and the differences between designated Roth accounts and Roth IRAs.  In addition, a discussion of target benefit plans and the new Form 8955-SSA has been included.

A new reading requirement has been added to the curriculum to address ethics. Elegant Ethical Solutions by Lauren Bloom. Elegant Solutions Consulting:  Goodlettsville, TN. Pages 5-23.

Lastly, testing of several defined benefit topics has been dropped including, what is an accrued benefit and how to calculate it, how the maximum benefit limits are applied and identifying the maximum deduction limit. However, for those interested in these topics they are still covered in the publication.

2012 RPF-2 Curriculum Changes
The RPF-2 curriculum has been updated for the 2012 course year to address the new ERISA §404(a) participant disclosure regulations and the ERISA §408(B)(17) fiduciary fee disclosure regulations. This includes a discussion of what plans are affected by them, when the rules are effective and what the disclosures are.

In addition, the discussion of minimizing fiduciary liability under ERISA §404(c) has been updated due to the effect of the new participant disclosure regulations.

Some concepts previously tested, that emphasized issues a financial advisor focused on, are no longer being tested due the policy change that the RPF courses are no longer required for the QPFC credential.

2012 TGPC-1 Curriculum Changes
The TGPC-1 Course has been updated for the 2012 course year to incorporate key concepts from the RPF-1 and RPF-2 material applicable to administrators. 

These changes include adding the nuts and bolts of retirement plan education including:

• benefits of participating or sponsoring a retirement plan
• Definitions of vesting and forfeitures
• plan document types
• QDRO rules
• financial hardship requirements
• identifying HCEs and ACP test corrections
• calculating maximum loan amounts;
• the consolidation of LOs that describe an employer’s responsibilities post the final 403(b) regulations.

 Additional advanced topics include:

• In-plan Roth conversions
• Differences between frozen and terminated plans

2012 TGPC-2 Curriculum Changes
The most significant addition to the 2012 TGPC-2 curriculum is the addition of the new topic "Understanding Plan Fees." This information was added to increase the exam’s visibility and relevance to financial advisors. The new curriculum is supported by information provided by Pete Swisher. 401(k) Fiduciary Governance: An Advisor’s Guide, 3rd Edition. This information is provided in a separate article that is included with the syllabus.

The additions to the curriculum will cover the following subjects:

• Mutual fund sales charges including 12b-1 fees
• Explanation of investment management fees and sub-TA fees
• Annuity contract expenses
• Revenue sharing-what it is and how it affects a plan
• Fee disclosure requirements (The Source 3rd Edition includes information regarding this topic.)

Deleted from the curriculum were topics that were significant when the final 403(b) regulations were initially finalized. This includes:

• Status of 403(b) accounts transferred prior to September 24, 2007.Issues regarding permissible exchanges from September 25, 2007 through December 31, 2008
• Correction methods available for a non-permissible exchange.

New Product Offerings

Plan Financial Consulting (PFC) Certificate Program [top]
ASPPA is proud to offer this new intermediate level Certificate program. The PFC-1 exam is required for the certificate program and also is the primer for the Qualified Plan Financial Consultant (QPFC) credential. The PFC certificate program provides the framework for a candidate to achieve core competency as a retirement planning professional. The PFC-1 exam in 2012 is an online, open-book examination (previously offered as a proctored exam administered at Prometric testing centers). 

Defined Benefit Administration (DB-A) Certificate Program [top]
The Defined Benefit Administration Certificate is earned after successful completion of the Defined Benefit Administration (DB-A) examination. ASPPA has designed this certificate program as an intermediate level certificate intended to fill in the gap between ASPPA’s Administrative Issues of Defined Benefit (DB) exam and the (CPC) Cash Balance Module together with the defined benefit portion of the CPC proctored exam (both consulting level exams). The certificate will expand on basic defined benefit knowledge and learning objectives taught in the Retirement Plan Fundamentals (RPF) course and the (DB) proctored examination to cover additional defined benefit administration topics. It is primarily intended for administrators who would like to expand their skill set and more fully support the needs of the actuarial staff. 
 

PFC-1 Exam Delivery Format Change  [top]
As noted above, the Plan Financial Consulting-1 (PFC-1) examination in 2012 will be an online, open-book examination offered on demand from January-December each calendar year. The exam will consist of 85 true/false or multiple choice exam questions. Upon completion of the PFC-1 exam, a candidate will receive an immediate score and feedback report. A score of 73 or more out of 85 is a passing score (85% correct). The PFC-1 exam focuses on the administrative and consulting issues commonly encountered by financial consultants who service the retirement plans market. 

New & Updated Textbooks/Reference Materials  [top] (Listed Alphabetically by Publication Name)
The following highlights changes to ASPPA publications used for the 2012 program year: 

CPC: The CPC Study Guide, 2nd Edition. [top]

The CPC Study Guide, 2nd Edition was updated for 2011. It will not be updated for 2012. There are no changes in the publication or articles for 2012.

DB: Administrative Issues of Defined Benefit Plans, 6th Edition - New Format coming in 2012! Available in March, 2012. Summary of updates coming soon.

DC-1: The ASPPA Defined Contribution Plan Series Volume 1: Plan Qualification and Compliance Basics, 4th Edition. [top]

The DC-1 textbook was updated for 2011. It will not be updated for 2012. There are no changes in the publication or articles for 2012.

DC-2: The ASPPA Defined Contribution Plan Series Volume 2: 401(k) Plans and Intermediate Administration Topics, 4th Edition. [top]

The DC-2 textbook was updated for 2011. It will not be updated for 2012. There are no changes in the publication or articles for 2012.

DC-3: The ASPPA Defined Contribution Plan Series Volume 3: Advanced Compliance and Administration Topics, 4th Edition. Available by January 1, 2012. [top]

Additions:

• Service provider fee disclosures
• Correction process for some common corrections
• How differential wage payments are treated for purposes of IRC §415 and IRC §414(s) compensation.
• Understanding the mechanics and terminology of the ESOP 409(p) rules
• ESOP diversification under the PPA rules
• QOSA information
• Rollover Notice 2009-68

Deletions:

• None

PFC-1: Retirement Plan Consulting for Financial Professionals, 4th Edition. Available by January 31, 2012.  [top]

Additions:

• Concept of employee benefit plans
• Comparison of a welfare benefit plan and a pension benefit plan
• Forms of benefit payment in a defined benefit plan
• Communications provided to employees when first eligible for a plan
• Participant annual additions – types of allocations and how to determine
• Key documents for plan implementation
• Plan document provisions
• IRS determination letters
• Consequences of plan disqualification
• Types of plans that may permit in-service withdrawals
• QPSA information

Deletions:

• None

PFC-2: Plan Financial Consulting Part 2 Study Guide, 1st Edition. Available in March, 2012. [top]

The required reading has been changed for 2012 to Plan Financial Consulting Part 2 Study Guide, 1st Edition. The previously required reading, Pete Swisher's 401(k) Fiduciary Governance: An Advisor’s Guide, 3rd Edition, is still recommended as a valuable resource for advisors.  The purpose of the new text is to provide candidates with a "student edition" of the previously required text that is written specifically to prepare for and successfully complete the PFC-2 exam.  The NEW study guide includes Q&As for each chapter to help candidates access their understanding of the material.

Additional Required Reading:

Bloom, Lauren. Elegant Ethical Solutions. Elegant Solutions Consulting: Goodlettsville, TN.

RPF-1: Retirement Plan Fundamentals Part 1, 7th Edition. Available by January 1, 2012. [top]

Additions:

• Section on IRAs and Roth IRAs
• Language regarding in-plan Roth rollovers
• Comparison chart of designated Roth accounts vs. Roth IRAs
• Section on target benefit plans
• Section to address the new Form 8955-SSA

Reading requirement for ethics written by Lauren Bloom. Elegant Ethical Solutions. Elegant Solutions Consulting:  Goodlettsville, TN. Pages 5-23.

Updates:

• Dates in examples and for cost of living
• Facts on plan types and their growth over the years
• Quiz questions were added to the chapters so all chapters have at least 12
• Supplemental reading recommendations

Deletions:

• Paired down the discussion on electronic communication
• Language regarding MRD’s not required for 2009
• Sample Special Tax Notice which was outdated
• Quiz questions outdated

RPF-2: Retirement Plan Fundamentals Part 2, 7th Edition. Available by January 1, 2012. [top]

Additions:

• Section on ERISA 404 (a) fiduciary disclosure requirement for plans that allow participant directed investments
• Section on the participant fee disclosure regulations under ERISA 408(B)(17)
• Number of retirement plan dollars invested in employer stock compared to participant loans and mutual funds illustrating importance of understanding stock processing issues

Updates:

• Section on ERISA 404(c) disclosure requirements as affected by the new fiduciary disclosure requirements under ERISA 404(a)
• Information on how many plans are participant directed
• Dates in examples and for cost of living
• Quiz questions were added to the chapters so all chapters have at least 12
• Supplemental reading recommendations

Deletions:

• Quiz questions outdated

TGPC-1 & TGPC-2: The Source, 3^rd Edition. [top]

TGPC-1: The Source, 3^rd Edition, was updated for 2011. It will not be updated for 2012. There are no changes in the publication or articles for 2012.

Additional Required Reading:

Bloom, Lauren. Elegant Ethical Solutions. Elegant Solutions Consulting: Goodlettsville, TN.

TGPC-2: The Source, 3^rd Edition was updated for 2011. It will not be updated for 2012.

Additions:

To accommodate the 2012 curriculum needs for TGPC-2, which included a new topic on plan fees, a separate article was created from information provided by Pete Swisher 401(k) Fiduciary Governance: An Advisor’s Guide, 3rd Edition. This article is included in the syllabus. 

New article covers:

• Mutual fund sales charges including 12b-1 fees
• Explanation of investment management fees and sub-TA fees
• Annuity contract expenses
• Revenue sharing-what it is and how it affects a plan

The TGPC-2 syllabus also includes the link for an additional required reading: IRS Publication 590, 2010. http://www.irs.gov/publications/p590/ch01.html. This reading will add depth to the IRA information provided by The Source.

Deletion followed by an Addition:

A new article replaces a prior article on the topic of Investment Policy Statements. The new article was compiled from the Investment module publication and also from the 401(k) Fiduciary Governance: An Advisor’s Guide, 3rd Edition. The current article is less subjective and more to the point than the prior article. It is included in the syllabus.

Added to Recommended Reading List:

Bloom, Lauren. Elegant Ethical Solutions. Elegant Solutions Consulting: Goodlettsville, TN.

The ERISA Outline Book – 2012 Print Edition Coming in March  [top]
The ERISA Outline Book, by Sal L. Tripodi, APM, J.D., LL.M, is both a reference book and a study guide on qualified plans, presented in outline format and fully indexed. It is the recommended study resource for the IRS Enrolled Retirement Plan Agent (ERPA) Program. The online version of The ERISA Outline Book is available in 12-month subscription format, giving online subscription holders 12-months of access to the most relevant updates during the year. Online purchasers receive secure access to a fully searchable and cross-referenced Web site.

Single and multiple-user licenses and locations can be purchased in various configurations to suit the needs of your organization. The ERISA Outline Book is also available in print format as well as a Print & Online package. To purchase The ERISA Outline Book, visit the ASPPA Bookstore at www.asppa.org/bookstore. 

DC-1 & DC-2 Exams Offered Internationally  [top]
Candidates can register for and take ASPPA’s DC-1 and DC-2 exams almost anywhere in the world where a Prometric testing center is located. Additional fees do apply. Register online at www.asppa.org/exams. 

Practice Examinations  [top]
ASPPA’s most popular study tool for candidates, practice exams allow you to test your preparedness and identify weaknesses before taking an examination. They also expose you to the various formats of exam questions. Order at www.asppa.org/practice-exams.  

Certificate Program Online Practice Examinations: 
Practice exams available for RPF-1, RPF-2, TGPC-1 and PFC-1 are now offered online and accessible immediately upon purchase through the Access Exams & Quizzes link at www.asppa.org/access-exams-andquizzes. They mimic the actual exam experience!

Credentialing Program Practice Examinations:
New practice exams for TGPC-2, PFC-2, DC-1, DC-2, DC-3 and DB are coming by March 2012. Available as downloadable PDFs – there are multiple prior year versions available as helpful study tools for 2012 students as well!

Other Updates

Longer Examination Testing Windows  [top]
ASPPA credentialing examination testing windows will still be offered twice per year but they have been extended to 3-4 months rather than 6-8 weeks:
        Spring window: April 2 – June 29
        Fall window: August 1 – November 30

Please note since the windows start earlier, the early and final registration deadlines occur earlier in 2012:

		Spring Window	Fall Window
	Early Registration Deadline	March 12	July 9
	Final Registration Deadline	May 1	September 12

Reminder - Educational Material Copyright [top]
All ASPPA examination and educational materials are copyrighted. No examination, publication, practice examination or recorded educational materials can be copied, reproduced or shared in any form by any means without written permission from ASPPA. In an effort to provide educational opportunities to interested employers, ASPPA does offer specific distributable products (see details under Distributable Educational Materials).

Distributable Educational Materials  [top]
Please note that only products noted as distributable can be distributed. Purchasers of these products are allowed to distribute to direct employees of their Company. In addition, authorized Universities offering ASPPA education are eligible to distribute the purchased materials to their students. Purchasers of this product are prohibited from distribution of these materials to any other parties unless agreed upon by ASPPA in writing. Materials may be e-mailed directly to the above-mentioned parties or published on a non-public portion of the Purchaser’s website for access/distribution. Materials may not be placed on a site that has general public access. All other use or distribution of these materials is explicitly prohibited unless otherwise approved in writing by ASPPA. The 2012 distributable product offerings include:
• Retirement Plan Fundamentals (RPF-1 and RPF-2), 7th Edition Course Set
• Retirement Plan Consulting for Financial Professionals, 4th Edition, the textbook for the Plan Financial Consulting-1 (PFC-1) exam

Institutional/Corporate Training Offerings  [top]
ASPPA has a special volume pricing program to help the many institutions that promote and support ASPPA’s education and credentialing programs. Find out more at www.asppa.org/training.