DEFINITION of 'Chartered Retirement Plans Specialist (CRPS) '

A professional designation awarded by the College for Financial Planning to individuals who specialize in creating, implementing and maintaining retirement plans for businesses. They must pass an exam demonstrating their expertise. Successful applicants earn the right to use the CRPS designation with their names for two years, which can improve job opportunities, professional reputation and pay. Every two years, CRPS professionals must complete 16 hours of continuing education and pay a nominal fee to continue using the designation.

BREAKING DOWN 'Chartered Retirement Plans Specialist (CRPS) '

The CRPS program is a case-study based, client-centered problem-solving approach. The study program to become a CRPS covers types and characteristics of retirement plans, including IRAs, small business retirement plans, defined contribution plans, 401(k) plans and nonprofit and government plans. It also covers plan distributions, plan design and implementation, plan establishment and operation, and fiduciary issues.

RELATED TERMS
  1. Chartered Retirement Planning Counselor ...

    A professional designation awarded by the College for Financial ...
  2. Certified Treasury Professional ...

    A professional designation awarded by the Association for Financial ...
  3. Chartered Mutual Fund Counselor ...

    A professional designation awarded by the College for Financial ...
  4. Chartered Market Analyst - CMA

    A professional designation awarded by the American Academy of ...
  5. Designated Beneficiary

    The person who determines how long the retirement plan will survive ...
  6. Certified Consumer Debt Specialist ...

    A professional designation awarded by the Center for Financial ...
Related Articles
  1. Financial Advisor

    The Alphabet Soup of Financial Certifications

    We decode the meaning of the many letters that can follow the names of financial professionals.
  2. Financial Advisor

    Should Financial Advisors Pursue the CFA?

    There is a certain prestige that comes with obtaining your CFA, but is it needed?
  3. Retirement

    How We Can Help Close the Retirement Savings Gap

    The majority of Americans are not very confident about having enough for retirement.
  4. Financial Advisor

    Are Cash Balance Pensions the Best for Small Biz?

    Are cash balance pensions the right solution for your small business clients? Here's why they may or may not work for your firm.
  5. Managing Wealth

    Financial Designations That Lead To The Highest-Paying Jobs

    Not only do these finance careers pay high salaries, they're also in high demand.
  6. Retirement

    How to Really Take Charge of Your Retirement Plan

    Business owners and those who are self-employed may find that their 401(k) plans aren't enough.
  7. Retirement

    5 Lesser-Known Retirement And Benefit Plans

    These plans aren't widely used, but they fill a specific niche for employees in certain situations.
  8. Personal Finance

    An Introduction To The CFA Designation

    The CFA designation is seen as the key certification for investment professionals. Find out what the CFA signifies for candidates and investors.
RELATED FAQS
  1. What are some common and useful retirement planner designations? Are they expensive ...

    Some common retirement planner designations are: Chartered Retirement Plans Specialist (CRPS) designation from the College ... Read Answer >>
  2. How do you plan for retirement if you have multiple employers? Can you combine retirement ...

    Retirement planning for those who work for more than one employer is essentially the same as for those who work for only ... Read Answer >>
  3. How do I get credit for my retirement plan contributions?

    There is an added incentive for adding to your retirement nest egg, if your income falls within certain limits. Under this ... Read Answer >>
  4. What are qualified retirement plan types?

    Understand the different types of qualified retirement plans and what they mean in terms of employee and employer contribution ... Read Answer >>
Hot Definitions
  1. Fixed-Income Security

    An investment that provides a return in the form of fixed periodic payments and the eventual return of principal at maturity. ...
  2. Free Cash Flow - FCF

    A measure of financial performance calculated as operating cash flow minus capital expenditures. Free cash flow (FCF) represents ...
  3. Leverage Ratio

    Any ratio used to calculate the financial leverage of a company to get an idea of the company's methods of financing or to ...
  4. Two And Twenty

    A type of compensation structure that hedge fund managers typically employ in which part of compensation is performance based. ...
  5. Market Capitalization

    The total dollar market value of all of a company's outstanding shares. Market capitalization is calculated by multiplying ...
  6. Expense Ratio

    A measure of what it costs an investment company to operate a mutual fund. An expense ratio is determined through an annual ...
Trading Center