Training for 401k Administrator

[Guest etu22]

I'm fairly new to administrating a 401k plan for my company and have learned through trial and error what I'm supposed to do. It's been quite frustrating because I didn't have any formal training. I got the basics to get me by and then was left to fly on my own.

Now, almost a year later, I'm trying to learn all the things I should know, procedural and compliance wise. Can anyone direct me to some reputable training sites that would help me to be more proficient at being an administrator?

Thank you.

Elisa

[jquazza]

You should try to work with NIPA or ASPA. Both offer professional designations (APA, APR for NIPA, QPA, QKA and CPC for ASPA) and training manual. Checkout NIPA .org or ASPA.org.

[JanetM]

Sunguard Corbel has good programs for basics. Go to corbel.com

[Brian Gallagher]

I think the ASPA programs are good for new people. Especially the PA exams. You can do them at your leisure.

www.aspa.org

[Guest etu22]

Thanks for the information. I'll check it out.

[R. Butler]

I'm sure all those programs are good. I know ASPA is good. If you trying to learn calculation stuff like ADP/ACP, top heavy, nodiscrim., etc. I learned most of that by reading refernce material & then using what I read to duplicate the results on Quantech.

[Brian Gallagher]

NIPA?

No one in my office has heard of the designations given by NIPA. IS this a relatively new organization? Do the designations carry any weight?

Also, no one above (inculding me!) mentioned CEBS. I haven't done it yet, but I thought about doing atleast the retirement plan track.

[Blinky the 3-eyed Fish]

There is a good comparison of the two (ASPA and NIPA that is) here:

http://benefitslink.com/boards/index.php?s...t=0entry53171

[Guest Mbrockway]

You can also check out NIPA's website. www.nipa.org

[stephen]

It is my understanding that CEBS is an overall employee benefits designation a small part of which includes qualified plans.

NIPA is probably better known on the West coast as that is where they are based.

ASPA has restructured their program beginning this year to more closely resemble how a new employee would be trained. Starting with basics in DC! and adding more complicated materials in DC2 and DC3. Check it out at ASPA

[Guest etu22]

Thanks again. I appreciate it.

If you believe these sources are good for an Employer Administrator to attend, that's what I need.

[oriecat]

It is my understanding that CEBS is an overall employee benefits designation a small part of which includes qualified plans.

CEBS also has several specialty track designations that are more specialized than the full CEBS designation. They are Group Benefits Associate (GBA), Retirement Plan Associate (RPA), and Compensation Management Specialist (CMS). I keep thinking about studying for the GBA to go with my CPP, since I deal with so many of our welfare benefits, but haven't gotten around to it yet...

[Guest greggi39]

i've taken the cpc exams from aspa and the 2 retirement exams from cebs--for someone starting out--take the aspa exams--they cover more info and are much more detailed.

[Guest duh]

I have taken both ASPA and CEBS exams. ASPA is better for an administrator however, CEBS is great designation to provide you with a broad based education. I've drawn from my CEBS background on numerous occasions when consulting with clients. I would recommend both, but ASPA first.

[Guest EDSAADE]

my recommendation would be for you to invest on Sal Tripodi's ERISA Outline Book.

[maverick]

Concur with EDSAADE's recommendation. I just received the study outline for ASPA's DC1 course (part of QKA designation), and guess what was in the box? A set of Sal's 2004 ERISA Outlines.

I have a CEBS designation, but am going for a QKA because the course of study directly relates to what I do every day.

[Guest kowen]

I have the CEBS and plan to take the ASPA exams. Considering how detailed I've heard the ASPA courses are, I wonder if I'd be better off waiting until we see where the Administration's retirement plan proposal goes. Any thoughts?

[Harwood]

Take them now. Never depend on pending legislation.

[doombuggy]

All the replies here have been great. I took one of the CEEBS exams in the past, but then come to my current company, and they really pushed for ASPA designations. I am waiting on my QKA certificate as we speak!

Sal's books are great (although quite large). A must for every desk of an administrator!

etu22: Definately try the take home tests that ASPA offers (PAs and Daily Val). The books are great reference books (even though they are a bit basic). You should definately take these tests before trying the harder ones. Good luck!

[Brian Gallagher]

Besides good o'l Sal Tripodi, all the copies of my Pension Answer Book have been well-worn. I really like the Q&A format. If I need more detailed information, I check Sal.

[Guest Tinman42]

I've taken both ASPA and NIPA courses. I have attained the "APR" (Accredited Pension Representative) designation from NIPA. I'm also responsible for training the administrators at my firm. From what I've seen, the ASPA courses are much better for someone just starting out - more English than "legaleze"!

The ERISA Outline Book is a great resource - but may also be over the head of a relative newcomer as he Sal can be very technical and go into alot of detail about more "advanced" topics.

Start with ASPA, and buy the outline book - good luck!

[Guest cjk]

Be aware that ASPA very recently developed Web courses to help prepare a student/candidate in learning the material that is part of the respective exam/course syllabus. The Web courses are very inexpensive, in my opinion. The cost for an ASPA member is $200 and for a non-member is $250.00. Each Web course consists of 7-9 sessions each 100-minutes long covering particular topics. I suggest that you go to the ASPA website and take a look. (aspa.org)