There is an array of retirement plan designations out there – ranging from broker-dealers giving out certificates following an afternoon class, to for-profit organizations offering them at a fee, to industry leading designations which require significant experience, knowledge demonstration and continuous professional education – giving those with the designation the expertise needed to guide clients through all complexities associated with retirement planning – from setting financial goals and income streams through estate planning.
The Certified Retirement Plans Specialist (CRPS(r) Program aims to equip professionals with expert knowledge of recordkeeping and administration of employer-sponsored retirement plans. Comprised of three courses that build upon each other and typically take over 150 hours each to complete, it equips professionals with all they need for effective administration of employer-sponsored pension plans.
Businesses and wholesale clients looking for expertise in administering large retirement plans for companies, non-profits, or government organizations. Individuals holding the CRPS(r) mark can offer business and wholesale clients their expertise in designing company-appropriate plans using implementation techniques as well as managing retirement assets effectively. They can assist businesses and their employees by helping ensure compliance with regulatory requirements when managing retirement plans.
The Retirement Income Institute of America, or RIIA(r), is an organization dedicated to educating professionals about retirement income planning. This specialty involves transitioning from accumulation of wealth towards creating sustainable streams of retirement income that will last throughout life. Through RIIA(r), students learn how to develop retirement income strategies, maximize Social Security benefits, and assess tax efficiency when investing. Earning their credential requires both an undergraduate degree and professional experience.
An RIIA(r) credential can help individuals expand their retirement plan business, increase credibility, and demonstrate an understanding of retirement income planning complexities. It may also benefit those holding more general designations like CFP(tm) or CFA who wish to add specialized knowledge to their practice.
The Retirement Income Certified Planner credential (RICP(r)) is an additional credential that can be added onto an existing CFP(tm) certification or MS Degree in Personal Financial Planning from CFP(tm). The Retirement Income Coverage Plan(tm) program provided by The American College specializes in retirement income planning. The Retirement Income Certified PlannerTM curriculum equips advisors to plan for sustainable streams of income in retirement by optimizing Social Security benefits and mitigating risks during asset accumulation phase distribution stage distribution stage, managing portfolios in retirement income phase as well as working with fiduciary clients. Individuals meeting all educational, experience and ethics criteria may apply for the RICP(tm) credential.