RPF-1 and RPF-2 Information

Retirement Plan Fundamentals (RPF-1 and RPF-2)

Please note: The 2008 RPF-1 and RPF-2 exam submission deadline is December 15, 2008 (midnight, Eastern Time)

> Syllabus: RPF-1 [PDF]
> Syllabus: RPF-2 [PDF]
> RPF Examination Errata
> RPF Course Overview
> Exam Requirements & Procedures
> Required Reading
> ERRATA Study Guide & RPF exams
> RPF Exam Waivers
> Subject Matter
> Download a pdf of the RPF exams
> Register online for an RPF exam
> Deadlines & Fees

Related Links : Register for Exams : Candidate Corner : Study Guide References print page

RPF Course Overview

The Retirement Plan Fundamentals (RPF) program is designed to convey the broad base of knowledge necessary for every retirement plan professional to master. RPF text materials and exams aid in establishing groundwork in retirement plan terminology, issues, and requirements for anyone beginning a career, reentering the retirement field, or commencing the credential process.

The objective of the Retirement Plan Fundamentals Course, Parts I and II, is to give an individual beginning a career as a retirement plan professional a general background in qualified plans as a first step toward meeting the challenges of the profession. Individuals employed in the insurance, brokerage or financial consulting professions should find that the course imparts knowledge that will increase his or her ability to assist plan sponsors and further professional development.

Exam Requirements & Procedures

The RPF course is divided into two parts: each part is designed to build upon the groundwork established by its predecessor while not duplicating content or presupposing knowledge or experience level. The candidate sitting for the RPF-1 and RPF-2 examinations will have the knowledge of material covered in the respective Retirement Plan Fundamentals study guides.

Each exam consists of 75 multiple choice and true/false questions. Once registered for an RPF examination you will have access to the examination within your account. You may complete a portion of the exam, save it, and return to the exam at another time to complete it. 2008 RPF exams must be submitted online by December 15, 2008 (midnight, EST).

Upon completion of an RPF exam, you will receive an immediate score and feedback report. A score of 68 or more out of 75 is a passing score. Please note there are two versions of each exam. If you fail one version you can register, pay and take the second version in the same calendar year. For example, if you register for RPF-1 version 1 and you fail, you can register and pay for the RPF-1 version 2 exam the same calendar year.

Exam Registration - The RPF examinations are available online as PDF documents so you can download the exam and review before taking online. RPF exams must be submitted online by December 15, 2008 (Midnight, EST). The non-refundable registration fee for the RPF online exams is $160 each. Click here to register online for an RPF-1 or RPF-2 exam or download the RPF registration form and send via mail or fax to 703.516.9308.

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.

Required Reading

The required readings for the RPF exams are:

RPF-1 Study Guide: Retirement Plan Fundamentals Part 1 – 2008 Edition. Arlington, VA: ASPPA

Table of Contents
Chapter 1: Introduction to Retirement Plan Fundamentals
Chapter 2: Who Sets Up the Plan and Keeps it Running Smoothly
Chapter 3: Defined Contribution Plans
Chapter 4: Defined Benefit Plans
Chapter 5: First Steps to a New Plan
Chapter 6: Basic Plan Document Language
Chapter 7: Plan Qualification
Chapter 8: Enrolling Employees
Chapter 9: Disclosure and Communication
Chapter 10: Withdrawals While Actively Employed
Chapter 11: Participant Loans
Chapter 12: Distributions and Tax Rules
Chapter 13: Updating Plans and Error Corrections
Chapter 14: Record Retention
Chapter 15: ASPPA Code of Professional Conduct
Appendix A: 10-Year COLA Summary
Appendix B: Comparison of 401(k)s, SIMPLE 401(k)s and SIMPLE IRAs
Appendix C: Summary of Significant Legislation Affecting Retirement Plans
Appendix D: A Guide to IRC Sections Affecting Retirement Plans
Appendix E: Annual Reporting Calendar
Appendix F: Special Event Reporting Summary
Appendix G: Sample Hardship Provision Notice
Appendix H: Sample Loan Policy
Appendix I: Loan Calculation Worksheet
Appendix J: Special Tax Notice Regarding Plan Payments

RPF-2 Study Guide: Retirement Plan Fundamentals Part 2 – 2008 Edition. Arlington, VA: ASPPA

Table of Contents
Chapter 1: Retirement Plan Administration
Chapter 2: Allocations and Maximum Limitations on Benefits for Defined Contribution Plans
Chapter 3: Annual Testing
Chapter 4: Living in an Electronic World—Daily Valuation
Chapter 5: Differences Between Balance-Forward and Daily Valuation
Chapter 6: Fiduciary Considerations
Chapter 7: Appropriate Investments for Daily Valuation Plans
Chapter 8: Analyzing Investment Fees
Chapter 9: Daily Activities
Chapter 10: Mutual Fund Trading Practices
Chapter 11: Processing Transactions
Chapter 12: Ethics in Dealing with Trading Errors and Corrections
Chapter 13: Conversion Decisions and Issues
Chapter 14: Conversion Types and Methods
Chapter 15: Mergers and Terminations
Appendix A: Sample Request Forms
Appendix B: 10-Year COLA Summary
Appendix C: Sample ERISA §404(c) Administrative Procedures
Appendix D: Mutual Fund Trading Through the NSCC
Appendix E: Contribution Processing
Appendix F: Distribution Processing
Appendix G: Sample Service Agreement
Appendix H: Sample Paperwork for a Conversion

The 2008 RPF-1 and RPF-2 study guides are available online to order. You can purchase the RPF study guide(s) using the online bookstore or you can download the publications order form and submit via mail or fax (please review the order form for the mailing address and/or fax number as publication orders are not sent to the ASPPA office). New This Year – The RPF Study Guides will be available in PDF format sent via e-mail or for an additional cost a bound book format will also be available. Please refer to the publications order form or online bookstore for pricing. Exam registration fees are not included with the price or purchase of study 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.

RPF Examination Waivers

The RPF exams replaced the Pension Administrator exams (PA-1, 2, and 3) in 2006, and serve as the foundation for the QKA, QPA, CPC, and QPFC credentials awarded by ASPPA. Those who have passed the PA-1, PA-2, and PA-3 exams are eligible to waive the RPF requirement for those credentials. Please refer to the ASPPA examination waiver webpage for additional information and exam waivers.

Subject Matter

The RPF exams provide the latest industry information and standards and introduce new topics that are essential to today’s retirement practitioner. RPF study material is presented in a logical fashion, aiding learning comprehension and knowledge retention. They maintain the high educational standard for which ASPPA is known. Please refer to the examination syllabi for specific learning objectives, exam topic weightings, etc.

Retirement Plan Fundamentals-1:

• Introduction to Retirement Plan Fundamentals
• Who Sets Up the Plan and Keeps It Running Smoothly
• Defined Contribution Plans
• Defined Benefit Plans
• First Steps to a New Plan
• Basic Plan Document Language
• Plan Qualification
• Enrolling Employees
• Disclosure and Communication
• Withdrawals While Actively Employed
• Participant Loans
• Distributions Tax Rules
• Updating Plans and Error Corrections
• Record Retention

Retirement Plan Fundamentals-2:

• Retirement Plan Administration
• Allocations and Maximum Limitations on Benefits
• Annual Testing
• Living in an Electronic World: Daily Valuation
• Differences Between Balance Forward & Daily
• Fiduciary Considerations
• Appropriate Investments for Daily Valuation Plans
• Analyzing Investment Fees
• Daily Activities
• Mutual Fund Trading Practices
• Processing Transactions
• Ethics in Dealing With Trading Errors and Corrections
• Conversion Decisions and Issues
• Conversion Types and Methods
• Audits of Employee Benefit Plans
• Mergers and Terminations

Download and review the 2008 RPF-1 and RPF-2 syllabi for detailed information on topics covered on the exam, learning objectives, exam topic weightings, etc.

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