Certified Retirement Services Professional (CRSP)

Searching for CRSP training? Then you've come to the right place!

Bank Training Center offers CRSP training and certification information for those individuals interested in earning the prestigious Certified Retirement Services Professional certification.

The Certified Retirement Services Professional (CRSP) certification is the undisputed professional credential for financial services professionals whose primary function and expertise focus on the provision of employee benefit and/or retirement plan services.

The CRSP designation signifies that an individual working in this field has attained comprehensive training in the following professional knowledge areas: Plan Type & Design, Laws & Regulations, and Investments.

Curriculum

Candidates must pass an examination that covers the knowledge areas below:

Plan Type & Design
You must have a thorough understanding of plan types (i.e., defined benefit and defined contribution plans), their key features, legal requirements applicable to each plan type and the tax elements for each plan. Your familiarity with the design and administration of plan types must range from plan installation to plan termination.

Laws & Regulations
You must understand the legal and regulatory issues applicable to the employee benefits industry. Your knowledge must encompass in-depth comprehension of ERISA and the fiduciary duties and liability under ERISA as well as IRS, SEC, OCC (Reg 9), FDIC and PBGC requirements. In addition, you must understand trustee and plan administrator responsibilities.

Investments
You must have knowledge of investment fundamentals, types of investment vehicles and their associated characteristics, objectives, risks, proxy handling, participant directed plans, investment strategies and handling of participant loans. Furthermore, you must possess a basic understanding of performance measures and securities lending as it relates to a plan's investment portfolio.

Examination Requirements

The qualifying exam consists of 150 multiple-choice questions; three hours is provided in which to complete the exam. Candidates may retake the exam if they do not pass; the exam re-take fee is $150. Candidates have the option of taking the exam in one of two formats:

A proctored exam at the candidate�s company, with an ICB-certified member serving as exam proctor
At an exam site that is within 2 hours driving time from the candidate's company

Additional Requirements

Candidates must meet the experience, education, ethics and examination requirements determined to be competency measures for retirement services professionals:

Professional Experience & Education: must meet one requirement
- A minimum of three (3) years experience in ERISA and IRS Code/Regulations experience and completion of an ICB approved employee benefit /retirement services training program
- Five (5) years experience in ERISA and IRS Code/Regulations
Professional Reference - One letter of recommendation from your manager attesting to your qualifications for certification including your ERISA and IRS Code/Regulations experience
Ethics Statement - Each candidate must sign ICB's Professional Code of Ethics statement, which is the last page of the application
Application � Candidates must complete and submit an application, affirming that they comply with the eligibility requirements at the time of submission; application fee is $295, covers exam as well

Continuing Education Requirements

Each certificant must complete thirty (30) credits of continuing education every three (3) years. Certificants are allowed to carry over up to ten (10) credits per three-year cycle.

An annual membership fee of $199 also is required to keep certification active.

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Bank Training Center offers Certified Retirement Services Professional program information for those individuals interested in earning the prestigious CRSP certification.