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aspa.org

Press Release

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FOR IMMEDIATE RELEASE

CONTACT:
Pecanne Jennings
Chief Marketing Officer
703.516.9300
pjennings@aspa.org

Download the press release as a pdf file

ASPPA RESTRUCTURES EXAM PROGRAM: STUDY MATERIAL MORE MANAGEABLE AND EXAM DATES MORE CONVENIENT

July 9, 2003 - (Arlington, Va.)- In an effort to make sure that its top-notch education program continues to meet the changing needs of retirement plan professionals, ASPPA, (American Society of Pension Actuaries) has restructured its exam program. Effective January 2004, study material will be presented in smaller segments, in a more logical, easier-to-understand way, and the testing dates will be expanded. While the program is changing, ASPPA assures professionals that the same high educational standards for which ASPPA is known will not change.

The exam restructuring is a result of exam candidate feedback and more than two years of research, analysis, and planning. It is one of many changes ASPPA has implemented over the past few years in an effort to keep its education program up-to-date. ASPPA recently began offering some of its exams on-line and also implemented instant grade results. Given the current trend toward on-demand, time-effective products, the use of on-line testing, instant grade results, and material that can be easily managed and digested, are all crucial in order for ASPPA to maintain its position of leadership in a competitive professional association market.

The major changes occurred in the QKA (Qualified 401(k) Administrator) and QPA (Qualified Pension Administrator) programs—particularly the C-1 and C-2(DC) computerized exams. The material for these exams was combined, reorganized into a logical year-long course, and broken down into three smaller segments: DC (Defined Contribution) 1, 2, and 3. To allow a student the opportunity to pass all three exams in a 12-month period, the testing windows will be opened three times a year, in May, August, and November. In addition, the Pension Administrators (PA) and Daily Valuation (DV) courses were redesigned into a package of take-home courses: PA-1, 2, and 3.

According to Michael L. Bain, MSPA, ASPPA Education and Examination Committee General Chair, “We are responding to our members’ needs by offering more convenient and efficient ways in which to meet the demand for education.” Bain adds that “Making the examination process as logical and time effective as possible is becoming a key factor for us as we try to maintain our standards in an increasingly complex area while promoting our professional designations.”

ASPPA’s programs include quality instruction and training, professional development and certification, and a competitive exam program for retirement plan professionals. The Defined Contribution (DC) courses provide training and education to employees of all experience levels about the process and terminology associated with defined contribution plan administration. The Pension Administrator (PA) courses offer an introduction to qualified retirement plans, pension plan administrative practices, and daily valuation processes. The PA exams are three of the exams needed for all ASPPA designations. Two of the DC exams are required for the Qualified 401(k) Administrator (QKA) designation and the third DC exam is required for both the Qualified Pension Administrator (QPA), and Certified Pension Consultant (CPC) ASPPA designations.

For more information about ASPPA visit our Web site at www.aspa.org. You can also contact ASPPA’s education department by calling 703.516.9300, e-mailing educaspa@aspa.org, or by faxing an inquiry to 703.516.9308.

ASPPA is a national organization of retirement plan professionals dedicated to the preservation and enhancement of the private pension system in the United States. ASPPA offers education and professional credentials for actuaries (FSPA, MSPA), pension consultants (CPC), 401(k) administrators (QKA), pension administrators (QPA), and other benefits professionals (APM). ASPPA’s 5,000 members provide consulting services and administrative support to over half of the private retirement plans in the country.

For more information about ASPPA visit our Web site at www.aspa.org. You can also contact ASPPA’s membership department by calling 703.516.9300 or by faxing an inquiry to 703.516.9308.