Which Professional Designation?

[Guest mrjones]

I've decided to pursue a professional designation, and am trying to decide which is the more useful: QKA (Qualified 401k Administrator, by ASPPA) or RPA (Retirement Plans Associate, by same people who do CEBS). I'm currently involved with DC employee/participant education (nearly all 401k), and would like to move into relationship management. Any thoughts on which of the above, or any other designation, would be most valuable in both preparing me for a relationship management role and in giving me credibility in a job search?

[Ron Snyder]

What about APA from NIPA? (NIPA) Or QPA from ASPPA?

[Note: These are not "professional designations", but para-professional (or quasi-professional) designations labeled as professional designations.]

[GBurns]

What and who determines what is a professional designation?

[Lori Friedman]

Some years back, I completed the exams for the APA (Accredited Pension Administrator) credential offered by NIPA (National Institute of Pension Administrators). The program was extremely comprehensive and thorough (not to mention grueling, having to study for and pass 6 exams).

[GBurns]

Do you or your peers regard it as a professional designation?

[david rigby]

Here is one prior discussion thread:

http://benefitslink.com/boards/index.php?showtopic=20870

There may be others.

[AndyH]

GBurns, what designations do you have? What licenses? Should mrjones get one of them?

[GBurns]

What does it matter to mrjones? I do not do nor do I plan to do pension administration or anything that he plans to do.

I have all I need for what I do, the people that I represent, and those that I represent them before.

[AndyH]

Then what was the point of your two questions?

[FundeK]

I think GBurns question

Do you or your peers regard it as a professional designation?

is a relevant one.

I think it is important to take a look at those around you (city, company) and see what they regard as a "professional designation". This is the one you want to pursue if you plan to stay in your current position and city. This designation would give you the "credibility in a job search" that you are looking for.

As for "preparing you for a role in relationship management", I don't know that any professional designation will do that. That most likely takes time and experience.

I, for one, went the ASPPA route simply because that is the only one my company supported and promoted. I do think I learned alot from the courses, but have learned ALOT more in doing my job day to day. The course give you a foundational knowledge, but if you aren't applying it, you will lose that knowledge fast.

[Guest Forms R Us]

If you have so much confidence in your complete lack of professional licenses, credentials, and designations, why are you so defensive? Me thinks thou doth protest too much.

[Guest quinn the car fixer]

the CEBS exams are very general and not very applicable in my day to day duties. the ASPA exams are much more helpful (at least for me).

I don't know much about NIPA.

ASPA designation would be recognized in any city in any region of the US. (b/c i have lived in 4 states around the US )

[GBurns]

Forms R Us

To whom is your post addressed?

[jquazza]

NIPA and ASPPA both offer very comprehensive programs for pension administrator. Each organization recognizes the other and grants credit for certain exams taken with the other, so if you want to pursue both designations, it a plus.

As far as being recognized as professional designation vs. para-professional, I don't know what that means. Maybe that you don't have any rights or powers granted to you once you have one of these designations (except for the right to call yourself APA or QPA etc...) I do know that as a hiring manager, I personally value these designations more than a college degree.

[Guest THess]

I have personally went the ASPPA way...but as a Corporate Trainer in the DC Plan field, I have also tutored employee's for the NIPA exams. I think both are definitely recognized, helpful and in some cases required. As a business owner now, I require that all my employees have either the QKA (qualified 401(k) administrator) from ASPPA or APA (accredited pension administrator) designation from NIPA.

Now if you want my personal opinion, I think ASPPA is more indepth. NIPA covers about the same, but some of the topics are briefly discussed. As well, ASPPA members are constantly informed on everything going on in the pension world. My sister is a member of NIPA and we compare notes all the time. By the way...she calls me all the time to ask questions...lol.

[FJR]

GBurns, what is pension administration? You mentioned you do not plan on doing that. I am not sure what you mean by pension administration.

By the way, what do you call yourself? I would like to breakdown the definition to your response and debate that.

[GBurns]

From other posters:

"APA (Accredited Pension Administrator) credential offered by NIPA (National Institute of Pension Administrators)"

"the QKA (qualified 401(k) administrator) from ASPPA or APA (accredited pension administrator) designation from NIPA"

"NIPA and ASPPA both offer very comprehensive programs for pension administrator"

Pension administration is what pension administrators do. The term pension administrator seems very well known by many other posters, So why not ask them? The definition is widely known and generally accepted in the industry as indicated by the many designation and credentials. It is not subject to "breakdown" or debate.

What does it matter what I do? That is not the topic of discussion, is it?

[Ron Snyder]

A "professional" is required to be licensed as such by a professional licensing board. Physicians, veterinarians, dentists, psychologists, etc. are regulated by the various states. Attorneys are regulated by the state supreme court through the state bar association. Actuaries are regulated through the Joint Board for the Enrollment of Actuaries, pre-empting state regulation (at least with respect to licensing with respect to qualified plan work). Professionals are licensed for their post-graduate professional training.

Within most professions there are para-professionals. They typically have designations that indicate their training, but those designations are equivalent to certificate programs that do not require a bachelors degree.

[GBurns]

Therein lies the problem with definitions.

In many states, if not all, some of those who are "required to be licensed as such by a professional licensing board" and who are "are regulated by the various states" or by a Licensing Board range from Real Estate persons (Board of Realtors), Cosmetologists (Board of Cosmetology), Insurance agents, Plumbers, Dietitians, Building Inspectors, Masseuses etc. Most of these even require advanced training but not a bachelor's degree.

[AndyH]

Jerome, apparently you (and I) will need to start taking massage classes if we want to call ourselves professionals.

[GBurns]

How about showing some of your wisdom one of these days?

[Guest Donkey Kong]

Stop annoying people Burns!

[Guest mrjones]

Maybe I should have asked "which professional credential". In any case, I didn't mean to instigate a kerfuffle. Based on the information from here and elsewhere, I've begun ASPPA's QKA certification courses. Thanks for your replies!

[Archimage]

Yes, but what and who determines what is a professional credential?

[AndyH]

Is it possible to vote someone off the BenefitsBoard Island ala Survivor? Then I could harpoon em.

[Guest mmc]

As a manager of a 401(k) recordkeeping department, the senior plan administrator position requires a QKA or QPA designation. When reviewing resumes, we look not only for experience, but also the designation.

The ASPPA designation requires personal time and perseverence outside of your job. If an individual demonstrates the dedication and pursuit of knowledge by getting the designation, that differentiates that candidate from one who hasn't pursued a designation.

However, I realize a designation isn't everything. I was an administrator for 20 years before I completed the exams for the QPA. However, I realized the necessity for getting the designation.

[Guest TAG]

Quint,

I have already voted via email to Dave - twice. Please feel free to follow.

TAG

PS - MrJones, ASPPA is a fine choice.

[actuarysmith]

I checked an online dictionary with the following results-

Professional - Engaging in a given activity as a source of livelihood or as a career.

Credential - That which entitles one to confidence, credit, or authority.

As someone who meets the apparently more stringent definition espoused earlier (i.e. Enrolled Actuary) - I consider those individuals who hold APA & QPA designations to hold professional credentials.

As I read through the prior posts I felt like I was standing in the middle of a group of guys comparing the sizes of their wing dingers...........

[AndyH]

Guess I'll stop my massage classes now.

[Lori Friedman]

Aw, gee, Andy, I was all ready to apply to Bartenders Academy.

[Guest Forms R Us]

GBurns,

I'm sure we'd all love to hear exactly what it is that you do, and how frequently your colleagues and clients do bodily harm to you.

[AndyH]

It would appear that he has been voted off and perhaps harpooned. But I miss him already.

[JanetM]

I don't. You must have a warped sentimental streak quint.

[AndyH]

Janet,

Since the emphasis on "listed transactions" and the decline of fun items such as springing cash value 412(i) plans, each time we lose someone who pushes life insurance as investments for children or college education plans I lose a potential food source. Quite sad.

[JanetM]

quint, I see your point. There have been times I followed GBurns around the boards honing my antagonistic and hostile skills.

[Guest Ned Ryerson]

I can put you in some whole life, term life, disability with an accidental death and dismemberment plan, whatever you need!

[jevd]

Ned,

How often do you visit Phil??

Just 2/2 or do you live there.

Its been our traditon to see you every 2/2.

[AndyH]

Janet, I thought I was the only such sad soul. Glad to know I'm not alone (I think).

Ned, I'm over 16 so that might actually be a good idea for me, especially in my occupation. But it's that variable life policy on my life that my uncle sold my mom when I was three that gets me mad. Imagine if she had bought Microsoft stock instead?

I might have been able to go to college and not be stuck out here in the water!

[Guest TAG]

As I said before, I voted twice......this time!

TAG

[Guest Gary Rouse]

I'm pretty sure Ned Ryerson is the life insurance salesman in the movie Groundhog Day. I chuckled.

[Guest Ned Ryerson]

I'm funny how? I mean funny, like I'm a clown? I amuse you? I make you laugh? I'm here to amuse you? What do you mean, funny? Funny how? How am I funny?

Oops, wrong movie.

[Guest Ntutini]

Decide why you want the designation.

For Career Growth:

In terms of value to others, I suggest doing a job search for your job title or the title you seek (on CareerBuilder, Monster, etc.) including the various professional designations for each search. See which credentials employers seem to value most.

For You and You Alone:

If the certification is for your own benefit, choose the program that most closely meets your needs.