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ERPA Designation


Guest A_Dude
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Guest A_Dude

Have my application in for the CPC credential, and was wondering what if any benefits the ERPA designation would give me? Also,very much looking to pursue becoming an Enrolled Actuary. Not, looking forward to having to do more test though :( .

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Guest A_Dude

Do you consider that a positive? I would be concerned about the legal ramifications or representing a client. We have had plans audited before, but never had an issue with the plan administrator/sponsor talking to the IRS/DOL and us providing the materials they request to the IRS/DOL.

Are clients recepitive of the ERPA? Also, do you charge for the extra liabiltity this creates for you in that position?

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I've never had to get a PoA to talk with the DOL. But I've never had any IRS representative tell me anything about a client without one. They don't mind us talking to them, but won't return the favor.

That's the only reason I decided to get my ERPA last year. I've used it once this year and was very useful in not having to get someone else to sit in the room on my behalf.

As to whether is makes sense for you has to be your own decision.

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It's actually tests, plural. As a CPC, you should have a good foundation. There is no study guide like for the ASPPA tests, just a syllabus.

I took Derrin Watson's webinar (from Relius) for both tests and they were invaluable.

Best thing to do, maybe download the sample tests and see how you do.

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I downloaded the two most recent sample tests and studied those.

My biggest fear was that I shouldn't even have to study since I've been in this business for 30 years! But the tests allowed me to review some things I don't deal with every day. I took the first one on a Friday and the second the following Monday. I was definitely glad to get it over.

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