You've probably noticed the impressive collection of letters following our team members' names, and we couldn't be more proud of what they represent! Each designation reflects countless hours of study, comprehensive examinations, and an ongoing commitment to professional excellence, all in service of providing you with the highest level of expertise. Let's dive into this alphabet soup!
Behind every set of credentials is a deeper commitment to your success!
CRPS® stands for Chartered Retirement Plans Specialist. It's a professional designation offered by the College for Financial Planning that focuses specifically on employer-sponsored retirement plans and their administration.
Core Focus:
The CRPS® designation is designed for professionals who work with employer-sponsored retirement plans, emphasizing plan design, administration, compliance, and participant services.
Key Topics Covered:
- Qualified retirement plan types and structures
- 401(k), 403(b), and other defined contribution plan design
- Defined benefit plan fundamentals
- ERISA compliance and fiduciary responsibilities
- Plan administration and recordkeeping
- Participant education and communication
- Investment selection and monitoring for plans
- Plan testing and nondiscrimination requirements
- Distribution rules and options
- Plan termination procedures
- Regulatory updates and compliance issues
- Fee structures and disclosure requirements
Requirements:
Candidates must complete comprehensive coursework covering retirement plan design, administration, and compliance, followed by a proctored examination. The program emphasizes both regulatory knowledge and practical application.
Continuing Education:
The designation requires ongoing continuing education to maintain certification, keeping professionals current with evolving retirement plan regulations and industry best practices.
Distinction:
The CRPS® is intended for retirement plan consultants, third-party administrators, recordkeepers, plan sponsors (HR professionals), financial advisors specializing in retirement plans, and other professionals involved in employer-sponsored retirement plan services.
This designation focuses on the "plan sponsor" side of retirement planning rather than individual retirement planning, addressing the complex regulatory and administrative requirements of running employer-sponsored retirement plans. It's particularly valuable for professionals who need to understand the operational and compliance aspects of workplace retirement benefits.
KDI CEO, Kevin Dick, holds this designation at KDI Wealth Management.
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