Administrative Issues of Defined Benefit Plans (DB)
DB Syllabus
Course Overview
Exam Details
Required and Supplementary Reading
Exam Waivers and Grandfathering Rules
Study Guide References and Errata
Course Overview
This course builds on the material learned from RPF 1 & 2, as well as DC-1. Those courses deal with basic terms and definitions within operation of a private employer’s voluntary qualified retirement plan. They include fundamentals such as – discrimination, coverage, preferential tax-treatment, reporting and disclosure and vesting among others.
The subject mater for DB:
- This course concentrates on administrative issues of defined benefit plans.
- Covers a broad range of topics at an intermediate level. Further coverage of defined benefit plan topics is found in the CPC and A-4 courses.
- Identifies ERISA law along with IRS, DOL, and PBGC regulations which provide a framework for the rules that govern qualified plan operations. These rules often apply to both defined benefit and defined contribution plans.
- Covers the nature of the defined benefit promise and the fundamental difference from the defined contribution promise.
- Discusses the concept of the present value of an accrued benefit under a plan which takes into consideration pay and service history, maximum benefit limitations and / or top-heavy and lump-sum minimum thresholds.
- This course introduces various types of defined benefit plans and various types of benefit formulas, plan termination insurance (PBGC), Qualified Domestic Relations Orders (QDROs) and issues that must be dealt with when benefits become payable.
- This course also considers the importance of the defined benefit practitioner’s compliance with ASPPA’s Code of Professional Conduct which aims to further the ethical behavior of ASPPA members.
It is presumed that a candidate sitting for the DB examination will have the knowledge of material covered in the Pension Administrator (PA) or Retirement Plan Fundamentals (RPF) series. In addition, it is recommended that the candidate pass DC-1 or be familiar with the material prior to taking the DB exam. Please refer to the DB syllabus for specific learning objectives, exam topic weightings, etc.
Exam Details
The DB examination consists of 65 multiple choice questions and candidates have two and one half (2 ½) hours to complete it. Candidates will receive a grade immediately upon completing the exam. Exams are given at Prometric Testing Centers during the examination window, please refer to the Education calendar for dates.
To register, a candidate must have an account with ASPPA, to create an account please click here. Candidates can register online or download the registration form and send via mail or fax to 703.516.9308.
Once registered, eligibility e-mails will be sent to candidates beginning approximately eight weeks prior to the opening of an exam window. The eligibility e-mail has detailed instructions on scheduling your appointment with Prometric. It is the candidate’s responsibility to schedule an exam. We strongly recommend you schedule an appointment upon receipt of the confirmation letter as testing centers fill up quickly. To find a Prometric Testing Center visit http://www.2test.com.
Exam Fees - The registration fee is a non-refundable.
- To qualify for early registration, registration forms accompanied by the early registration fee of $199 for members and $230 for non-members must reach the ASPPA office no later than April 19 for the spring examinations and September 27 for the fall examinations.
- To qualify for final registration, registration forms accompanied by the final registration fee of $269 for members and $295 for non-members must reach the ASPPA office no later than May 12 for the spring examinations and October 29 for the fall examinations.
For more information visit the Exam Schedule & Fees page.
Required and Supplementary Reading
All study materials can be ordered by using the online ASPPA Bookstore or downloading the Publications Order Form and following the instructions to phone, fax or mail your order form and payment.
The required reading for the DB exam is:
- DB Study Guide: Administrative Issues of Defined Benefit Plans - Study Guide, 2010 Edition. Arlington, VA: ASPPA. The 2010 edition of the DB Study Guide will be available in March for $179. Pre-orders are being accepted. The 2009 edition of the DB Study Guide is still available for purchase.
Defined Benefit Answer Book, Fourth Edition, by Neff McGhie. New York: Aspen Publishers, a division of Wolters Kluwer, Law & Business. (There is a 2009 paperback Supplement to this Fourth Edition. The Third Edition of the Defined Benefit Answer Book is outdated and differs considerably in arrangement from the Fourth Edition and thus should not be used with this syllabus). DB Answer Book with 2009 Supplement available for $259
Supplementary Study Tools - The study tools below are not required preparation for the DB examination. They are offered as additional study aids.
- 2009 DB Practice Exam – available for $35
- 2010 DB Practice Exam – available for $35 (use the publications order form to pre-order; practice exam will be available March 2010)
- DB Webcourse – For more information, click here
- The ERISA Outline Book Arlington, VA: ASPPA, 2010 by Sal L. Tripodi. Use the most recent edition available, but remember that the 2009 DB Examination only covers changes in law and regulations established prior to August 1, 2009. The examination does cover changes implemented in the Pension Protection Act (PPA).
It is the candidate’s responsibility to review all of ASPPA’s exam policies and procedures which can be found in the ASPPA Program Catalog or on Candidate Corner.
Study Guide References & Errata
For updates to ASPPA’s publications and examinations please click here. Stop by regularly as new updates are posted.