Developed by some of the nation’s leading retirement plan and education experts at the American Retirement Association (ARA), PSCA and select Education Partners, the Certified Plan Sponsor Professional (CPSP) credential attests to current and future employers that you have the requisite knowledge and skills to effectively evaluate, design, implement, and manage a comprehensive employer-sponsored retirement plan.
About the CPSP Credential
To be eligible for the CPSP a candidate must have at least 2 years of experience in a plan sponsor role, pass the CPSP credential exam, and ascribe to the PSCA Professional Code of Conduct.
No. However, PSCA offers an online preparatory course to help candidates prepare for the CPSP credential exam. The online prep course is available at no additional charge for PSCA plan sponsor members, through our Education Partners, listed below, or via CPFA- or QPFC-credentialed advisors. Though the education program is not required before taking the credential exam, it is highly recommended.
The CPSP Credential exam covers:
- considerations for retirement plan design
- defined contribution plans
- other types of employer-sponsored retirement plans
- fiduciary obligations and risk management
- investment concepts
- behavioral finance and employee/participant engagement
- compliance issues
- plan operations
- vendor management and selection
The CPSP credential exam is a 100-question online exam. Candidates have 2.5 hours to complete the exam.
The Certified Plan Sponsor Professional education program and credential exam are complimentary to all PSCA members through the generous support of our CPSP education partners, listed below. Individuals may also receive an enrollment code directly from a CPFA- or QPFC-credentialed advisor to grant them access to the education program and exam.
Official Registration will open April 2, 2019.
Candidates are given two attempts to pass the exam. Individuals who do not pass the exam after the second attempt may purchase additional attempts. The cost of the exam is $290.
CPSP credential holders must complete twenty-four (24) hours of Continuing Professional Education (“CPE”) each Credential Period. A Credential Period is two (2) complete calendar years. Each CPE Period begins January 1 of each even numbered year, and ends December 31 of the subsequent odd numbered calendar year. Initial credential holders that earn the CPSP in an odd numbered year will be exempt from year-end CPE requirements. Initial credential holders that earn the CPSP in an even numbered year will need to earn one-half of the required CPE prior to the end of the CPE cycle.
CPSP credential holders will also responsible for $175 annual credential maintenance fee.
Qualified plan sponsor candidates are free to take just the education program but we encourage all participants to take the credential exam to demonstrate their mastery of the subject matter.
The CPSP education program is approved for SHRM and HRCI CE credit in the following number of hours:
- Course 1 – CHOOSING THE PLAN – 4 CE hours
- Course 2 – BUILDING THE PLAN – 4 CE hours
- Course 3 – RUNNING THE PLAN – 5 CE hours
Once you have completed the CPSP Education Program, you will receive a digital certificate of completion that will include the codes you need to file for SHRM CE credit.
Access to the CPSP education program credentialing exam is complimentary to all PSCA members through the generous support of our CPSP education partners, listed below. You can become a PSCA member at psca.org/join.
Individuals may also receive an enrollment code directly from a CPSP education partner, as well as a NAPA Certified Plan Fiduciary Advisor (CPFA) or Qualified Plan Financial Consultant (QPFC) credentialed advisor.
Please note, to access the CPSP program through Ascensus, plan sponsors are required to have their plan administered by Ascensus. Please contact your financial adviser for more details.
If you are a CPFA- or QPFC-credentialed advisor, you can use your personal enrollment code to preview the online CPSP education program and review the coursework. Please note, only plan sponsors and other employer-based benefits professionals who meet the program requirements as articulated in the CPSP Candidate Handbook are eligible to earn a CPSP credential.
Yes. There are a number of informative webcasts throughout the year, as well as the Plan Sponsor Council of America’s National Conference (which on a standalone basis would generally fulfill the requirements).