Chartered Retirement Plans Specialist (CRPS)


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.

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  1. When can catch-up contributions start?

    Most qualified retirement plans such as 401(k), 403(b) and SIMPLE 401(k) plans, as well as individual retirement accounts ... Read Full Answer >>
  2. Are 401(k) contributions tax deductible?

    All contributions to qualified retirement plans such as 401(k)s reduce taxable income, which lowers the total taxes owed. ... Read Full Answer >>
  3. Are 401(k) rollovers taxable?

    401(k) rollovers are generally not taxable as long as the money goes into another qualifying plan, an individual retirement ... Read Full Answer >>
  4. Are catch-up contributions included in the 415 limit?

    Unlike regular employee deferrals, catch-up contributions are not included in the 415 limit. While there is an annual limit ... Read Full Answer >>
  5. Can catch-up contributions be matched?

    Depending on the terms of your plan, catch-up contributions you make to 401(k)s or other qualified retirement savings plans ... Read Full Answer >>
  6. Are catch-up contributions included in actual deferral percentage (ADP) testing?

    Though the Internal Revenue Service (IRS) carefully scrutinizes the contributions of highly compensated employees (HCEs) ... Read Full Answer >>

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