DC-1 Examination Information

Defined Contribution Administrative Issues – Basic Concepts

> DC-1 Syllabus [PDF]
> DC-1 Course Overview
> 2009 Education and Examination (E&E) Program Changes (ERPA Designation Impact)
> Exam Requirements & Procedures
> Exam Registration & Fees
> Required Reading and Supplementary Study Tools
> Study Guide References & Errata
> Subject Matter
> Deadlines & Fees
> Grading Process
> Register online

Related Links : Register for Exams : Exam Procedures : Study Guide References print page

Course Overview

Qualified retirement plans are afforded favorable tax treatment including tax deductible contributions, deferral of taxation to the employee and tax deferred investment earnings on assets. In order to be afforded this special treatment, qualified plans must satisfy certain requirements in the Internal Revenue Code and Treasury Regulations.

This course begins with the basic plan qualification requirements including plan document requirements. The course then explores the different types of qualified plans before delving into specific qualification requirements and concepts including eligibility, participation, highly compensated employees, key employees and top-heavy plans.

Candidates will learn about contributions and allocations, deductibility of contributions, vesting and forfeiture issues. The course also reviews plan amendments, plan terminations and annual reporting requirements (Form 5500 filings).

Finally, candidates will learn about the ASPPA Code of Professional Conduct and be able to identify ethical dilemmas that may be faced by retirement plan professionals.

2009 Education and Examination (E&E) Program Changes (ERPA Designation Impact)

Please refer to the 2009 Education and Examination (E&E) Program Changes webpage for information on the new and exciting enhancements to ASPPA’s educational programs.

Exam Requirements & Procedures

It is presumed that a candidate sitting for the DC-1 examination will have the knowledge of material covered in the Pension Administrator (PA) or Retirement Plan Fundamentals (RPF) series. All required reading material is listed in each topic which can be found by downloading the syllabus. Candidates have two and one-half (2 ½) hours to complete this 65 multiple choice examination. Candidates will receive a grade immediately upon completing the DC-1 exam at the testing center. The use of a calculator will be permitted if it conforms to the required specifications.

Exam Registration & Fees

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. You will also find additional helpful information such as test taking tips, directions for contacting your nearest Prometric testing site to schedule examinations, exam windows and dates and much more.

Exam Registration - Register online or download the Exam Registration Form and follow the directions on the form to fax or mail your registration. Confirmation e-mails will be sent to candidates beginning approximately eight weeks prior to the opening of an exam window. Once you receive your confirmation e-mail from ASPPA, you will need to contact Prometric to schedule your proctored exam appointment. Detailed instructions on scheduling your appointment will be included in the confirmation e-mail. Exams are given at Prometric Testing Centers. 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 - To qualify for early registration, registration forms accompanied by the early registration fee must reach the ASPPA office no later than April 17 for the spring examinations and September 19 for the fall examinations. To qualify for final registration, registration forms accompanied by the final registration fee must reach the ASPPA office no later than May 14 for the spring examinations and October 31 for the fall examinations. There is a non-refundable $199 early/$259 final registration fee per exam for members and a $225 early/$285 final fee per exam for nonmembers. For more information visit the Exam Schedule & Fees page.

Required Reading and Supplementary Study Tools

Unless noted all study materials can be ordered by downloading the Publications Order Form and following the instructions to phone, fax or mail your order form and payment. You can also order your publications using the ASPPA Bookstore.

Required Reading
Defined Contribution Plan Series Volume I: Plan Qualification and Compliance Basics, 2nd Edition. Arlington, VA: ASPPA.

Table of Contents
Chapter 1: Plan Qualification Requirements
Chapter 2: Types of Plans
Chapter 3: Requirements for Eligibility and Participation
Chapter 4: Highly Compensated Employees
Chapter 5: Key Employees and Top-Heavy Plans
Chapter 6: Requirements for Coverage
Chapter 7: Defined Contribution Plans: Contributions and Allocations
Chapter 8: Deductions
Chapter 9: Requirements for Vesting
Chapter 10: Plan Amendments and Terminations
Chapter 11: Annual Reporting Requirements
Chapter 12: ASPPA Code of Professional Conduct

To order this publication, visit our online bookstore or download the publication order form. Please refer to the 2008 Publications Order Form for publication listings and prices.

Supplementary Study Tools
The study tools below are not required preparation for the DC-1 examination. They are offered as additional study aids and require separate purchase and/or registration fees.

2007 DC-1 Practice Exam – available for $25 online through the online bookstore or download the publication order form. Please note this is the 2007 DC-1 practice examination; if you ordered the 2007 practice exam last year you do not need to reorder this practice exam.

2007 DC-1 Webcourse - It is expected that webcourse registrants preparing for an examination thoroughly study the topics covered in the required reading for the corresponding examination—outlined in the examination syllabus. The webcourse sessions should not be used as a substitute for these materials.

Study Guide References & Errata

For updates to ASPPA’s publications and examinations please visit: http://www.asppa.org/education/ed_study_guide_updates.htm. Please stop by regularly as new updates are posted.

Subject Matter

The law and regulations that govern the operation and qualification of retirement plans in general, including:

• Plan qualification requirements
• Types of plans
• Requirements for eligibility and participation
• Highly compensated employees
• Key employees and top-heavy plans
• Requirements for coverage
• Contributions and allocations
• Deductibility and minimum funding
• Requirements for vesting
• Plan terminations and amendments
• Annual reporting requirements

Download and review the 2008 DC-1 syllabus for detailed information on topics covered on the exam, learning objectives, exam topic weightings, etc.

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American Society of Pension Professionals & Actuaries
4245 North Fairfax Drive, Suite 750 • Arlington, VA 22203 • Phone: 703.516-9300 • Fax: 703.516-9308 • E-mail: asppa@asppa.org

© ASPPA 1999-2006. All rights reserved. ASPPA is a non-profit professional society.The materials contained herein are intended for instruction only and are not a substitute for professional advice.