Opinions on "The Pension Answer Book"

[Guest mrjones]

ASPPA lists The Pension Answer Book by Stephen J. Krass as recommended (not required) reading for its Pension Administrator courses, which are pat of its QKA designation. At $200 per copy, thought I'd see what others think of the book before buying. Any opinions?

[Guest dbvail]

My staff and I use it extensively. This and it's companion, the 401(k) Answer Book, are staples in our office. It is only after mining them for info that we go to this board (and others) for opinions on the less than definintive. Good luck!

[GBurns]

What are you comparing it to? What else are you considering using?

[Lori Friedman]

I use that book, and other books in the Panel Publishing pension series, often and extensively. They provide very quick answers in straightforward language. But, I recommend subscribing to the on-line version rather than buying the hardbound books. The books become outdated rather quickly, are more cumbersome to search through, and are more expensive than the electronic copy.

[Guest mrjones]

I went to the Aspen Panel website, can't seem to find anything regarding an online version. Where would I find information on it?

[GBurns]

http://www.aspenpublishers.com/product.asp...alog_Name=Aspen

But you might prefer chosing fom here:

http://www.aspenpublishers.com/newwelcome.asp

[Guest b2kates]

I use all of the Panel Publishing Answer Book Series extensively. They are a great resource for "plain English" explananations.

Further, I believe there most valuable feature is that everything is provided citations to the Internal Revenue Code so that you can confirm the authors thinking or come to a different conclusion.

[Effen]

The books are generally excellent, however Aspen (aka:Panel) are EXTREMELY aggressive marketers. When you order a book, they consider it a subscription and they will keep sending you more books without any prompting. They call, and call, and call again to try and sell you more books.

Just be careful when you order.

The books are also available on-line through a CCH subscription.

[Guest mrjones]

Wherever I look for an online version, all I find are online "libraries" which cost several hundred dollars and contain much more than The Pension Answer Book. Is it possible to purchase an online subscription to The Pension Anwer Book alone?

[Lori Friedman]

mrjones, You might want to call a customer service representative at Aspen Publishers and ask if you can subscribe to just one on-line book.

[Blinky the 3-eyed Fish]

If you are concerned just with the tests, the ERISA Outline Book is far better. I wouldn't even waste my time reading the Pension Answer Book while studying for the exams. As for day to day use, again the ERISA Outline Book is, in my opinion, a much better resource. It covers topics in much greater depth, it covers more topics, and it's author Sal Tripodi is as knowledgable as they come.

That being said, the Panel Publishing Answer Book Series online is a great resource as well because of the many books on different topics. Each book is able to go in-depth on a specific topic.

[Tom Poje]

years ago, in the pre-ERISA Outline Book era it was the Answer Book that got me through the ASPPA exams.

each has its strengths and its weaknesses. I certainly consider both the Answer Books and the ERISA Outline Books to be extremely useful - not just for studying to pass the tests, but simply for reference as well.

(Since I help on the Coverage/Nondiscrim answer book I don't feel in a position to make an unbiased comment about that particular book. I can guarantee you I have yet to use a cite like 'cuz Blinky the Fish said so' )

[Blinky the 3-eyed Fish]

Yes, that would be a poor cite.

I am curious as to what you think the weaknesses of the EOB are? BTW, for clarification, I am in no way involved with that book, so my objectivity remains unfettered, unencumbered, unadulterated, unabashed and unilateral.

[AndyH]

OK, my turn. The ASPA exams require BOTH. Both are very good. Both are very necessary IMHO.

Sorry Lori but I hate the online edition of BOTH, which I have. I have great trouble reading either. That of course depends upon your monitor and your eyes.

But I read essentially both front to back perhaps 1.5 times each when I took the exams and I would be doing a Stevie Wonder tribute for a living if I did that using the online versions.

Mr. Jones, since they both become dated I recommend that you purchase the one that is required reading for whichever exam you are taking. If both are recommended, get both.

The online versions are probably fine for occassional use but not exam studying IMHO.

Effen's comments are right on. They called me and called me and called me for years until somehow I got them to stop. And the books were never in my name. They must buy ASPA's mailing list since I still get lots of mail solicitations.

[Guest TAG]

Mr Jones,

My take is that you are not asking about the quality of the book, but rather if you really need to spend the $200 per for the QKA tests. I only used the ASSPA review books and passed the QKA exams in the same month. I guess it just depends on the person. For my money, I like Sal's stuff and he won't call you all the time to sell more!

TAG

[Guest mrjones]

My take is that you are not asking about the quality of the book, but rather if you really need to spend the $200 per for the QKA tests

Exactly. I'll be starting the PA-1 and PA-2 courses as soon as the manuals are available for purchse (already took PA-3, passed quickly with no difficulty). Sal's book is required for later courses (DC-1 and DC-2) so I'll be geting that one eventually anyway. But the Pension Answer Book is ony recommended for PA-1, PA-2, DC-1, DC-2....so I wonder how helpful it really is for those courses, before I spend $200 on it.

[Appleby]

I use that book, and other books in the Panel Publishing pension series, often and extensively. They provide very quick answers in straightforward language. But, I recommend subscribing to the on-line version rather than buying the hardbound books. The books become outdated rather quickly, are more cumbersome to search through, and are more expensive than the electronic copy.

Good point Lori. Except that after 1 year, you can no longer access the online version, unless you renew your subscription. While the hard copy may last you for a few years- assuming no major legislative change .

[K-t-F]

As everyone knows, the ERISA Outline book is a great reference for the pension administrator... but then so is the Pension Answer Book. I have always purchased the Answer Book.... Outline Book is talked up so much... What are everyone's feelings towards each? One considerably better than the other? $200 vs $300...

Thanks!

[Lori Friedman]

There's a very recent discussion about the Aspen/Panel Publisher "answer books" at http://benefitslink.com/boards/index.php?s...=0entry111779

[K-t-F]

I have a problem searching... I never can come up with these links!

Thanks for pointing me there.

[Santo Gold]

You can always cop-out and say that both are important and you should have both. But for more detailed and thorough answers, you have to go with the Outline Book. Our office stopped ordering the Answer Book (in favor of the Outline Book) several years ago and have not regretted it. However, for topics that you are unfamiliar with and perhaps need just a good read-able/explainable understanding of, then I think the Answer Book is the better source. It is easier to pick up on a topic's "basics", where as you can get lost in detail in the Outline Book.

[No Name]

I've had access to the Pension Answer Book (PAB) for maybe 10 years. At the beginning, I derided it as a "Comic Book". Over the years, it got thicker (more content, or perhaps more rules), a little better and more expensive.

I'm starting a work-from-home business and am interested in one reference (as well as a monthly subscription to TAG). Is Sal's book as readable as PAB? What format (Q&A, straight citations, examples, etc.)?

Will check the other thread as well.

[stephen]

If you are only going to order one reference I would suggest Sal's Book. It covers way more than the Pension Answer Book and in much more depth.

[Belgarath]

I have both, but for only one source, I would choose Sal's EOB. He has a genius for not only providing the technical information, but giving real life examples of (and solutions to) thorny problems.

The downside of Sal's book? The table of contents is challenging - until you get familiar with it, the way it is organized often makes it difficult to know where to look. And I don't like the online version either - although I have the same problem with anything else. I'm just old fashioned, I guess, but I can scan real pages WAY faster than I can on a computer - particularly if I'm flipping back and forth with several cross references.

I find the pension answer book particularly helpful when I think I know the answer, but want to double check myself. It is arranged and indexed such that you can get fast answers, and it is a great source.

So I'd hate to be without either one, but if forced to choose, I'd go with the EOB.

[K-t-F]

unfortunately, I have never purchased the EOB. I dont know what the text looks like and how the answers are arranged and described. Is the example on Cyberisa true to form.... what it looks like?

PAB does lend itself to easy reading... but when so many make reference to the EOB on these boards I find myself lost... no reference to go to see the point being made. I think I am leaning towards the EOB.

Sal offers the book... and the book w/CDs (for an additional 10 sawbucks). Any benefit to spending the extra $ for the CDs? Purchasing the online version I think has been determined to not be the way to go for the simple reason that once the subsription ends... you have nothing, no reference to look back on.

[Harwood]

The CDs are worth it.

You can do word searches; print pages; save selected pages. Everything is in adobe .pdf

[AndyH]

We should mention that there are at least 4 (probably more) Board regulars who are authors or significant contributors to the Answer Book Series. They deserve recognition:

Carol Calhoun

Gary Lesser

Tom Poje

vebaguru-sorry I don't recall your real name

Others that I've missed, please raise your hands.

[K-t-F]

I do like the answer book.... but as I mentioned, many make reference to the EOB... Thanks to all for your responses... Between this thread and the other it is pretty clear how people feel... both books are exceptional references!

[Lori Friedman]

PATA, I'm glad our comments were helpful. Heads up...the first 2005 exhibition game is this evening. So long, "Survivor", hello, Big Papi.

[E as in ERISA]

The only thing that I don't like about the outline book is the index. A problem with publications that don't have an larger editorial staff. You have to know what term Sal would file the issue under. For example, if you want to look up QJSAs, there is nothing in the Qs (even though QMACs, QNECs, QSLOBs are there). But you have to realize that everything is there somewhere. So you keep looking and go to "Joint and Survivor Annuity," which will point you to "J&S rules." It reminds me of what a friend called the "Irma approach." A reference to a little old lady clerk sitting in a room making up filing categories into which to sort information. And you have to figure out how Irma thinks...

[K-t-F]

They were.... only hope that you are all ready for me asking ... "where do I find this in the EOB? I can't find it in the table of contents!"

On a Sox note... good start last night with the win... after the record snowy winter we had here in Massachusetts, spring around the corner is a welcome sight! (although I am not ready to stop hitting the slopes up north with the kids)

[Effen]

Gee Boston wins, what a shocker. I glad those of you in Boston and NY can still get excited about Baseball. I suppose you enjoyed watching the first "dream team" play basketball also.

For those of us in the small markets, the exhibition season lasts all year!

[AndyH]

Effen, point well taken. But it was only a few years ago that the then-Red Sox ownership tried to tell Sox fans that they were only a small to mid market team. Then again, this was the same ownership with a GM who constantly spouted that the Red Sox had been in first place more of the season then the Yankees.

If you hear similar stuff about the Mets, it's all in the same Duquette family.

[Effen]

Good point Andy, although I think we can all agree that if all of the teams spent money like the Yankees and Red Sox, the league would quickly collapse.

I hoping the hockey owners stick to their guns and come up with a workable arrangement. Maybe letting that Boston group buy the whole league isn't such a wacky idea.

[Guest psgross]

We just spent a week in sunny Florida and visited the Yankees and Baltimore spring training camps! The Yankee's facililities in Tampa are nicer than some of the major league parks we've been to! They were so security driven that I couldn't even take a water bottle into the workout session! Give me a break.....it' a spring training workout!!!!!! Plus....their starting rotation makes more than the entire Cincinnati Reds (yep I live there!) team!!!!!

As a comment to the topic..........I worked with one of the attorneys that used to work at the DOL and he absolutely thought the Pension Answer Books were worthless..........half of the time the answers were not correct.....he relied on Sal's ERISA Outline Book as a more correct source.........he got really bent out of shape when you indicated that you had looked up the answer in the Pension Answer Book! Just adding my two cents!

[AndyH]

Ah, a Yankee fan. Gotta love em.

p.s. You do realize that you are wasting Harwood's time, don't you?

[Guest psgross]

I'm a Reds fan, thank you very much!

[Appleby]

As a comment to the topic..........I worked with one of the attorneys that used to work at the DOL and he absolutely thought the Pension Answer Books were worthless..........half of the time the answers were not correct.....he relied on Sal's ERISA Outline Book as a more correct source.........he got really bent out of shape when you indicated that you had looked up the answer in the Pension Answer Book! Just adding my two cents!

I will admit that I have seen an error here and there. But his comment is a gross overstatement.

I wonder how he feels about the IRS publications 590 etc…which is written by the experts in the employee division. Each year’s version is updated at least once, because of errors in the original version. That says something about the experts who work at the IRS and maybe the DOL?

..and no, I don't work for Panel Publishers

[Effen]

ESPN did a funny bit before the Yankees/Sox exhibition game last night, and again this morning on Sports Center. Interviewing 3-yr olds who have never seen their team win the world series.

Actually I hoping the go Sox 155-9 and the Yankees 154-10. Maybe then people might see the problem. But, probably not because the Red's will end up beating them in the World Series and they will say "See, a small market team won again!".

I hope Harwood doesn't mind, but I'm glad for the baseball chat.

[AndyH]

SWHT

That being said, yeah you are right about those records. But George still wouldn't let anything change, would he? But, then again, those in Red Sox nation know that small market teams often win the WS.

[Effen]

http://www.netlingo.com/emailsh.cfm

SWHT???

[david rigby]

so what the H-E-double-hockey-sticks?

[AndyH]

SWHT is a filter that should be added to each post that does not focus on a pension topic so one can search and exclude certain posts.

Stop Wasting Harwood's Time

http://benefitslink.com/boards/index.php?a...ndpost&p=112073

Excellent Link, Effen. Perhaps they will add SWHT to the list? FYIFV is a riot.

[Effen]

ILICISCOMK - I Laughed, I Cried, I Spat Coffee On My Keyboard

P.S. maybe since it's pension related, Harwood won't mind if we use FYIFV more.

[Lori Friedman]

AndyH, I'm ROTFLOL.

[Effen]

$331,811,942 and what did it get? Maybe if they would have put a few more million in they could have won something.

Personally - I love it. The only problem is now I don't have anyone to route against. Red Sox, Yankees, Braves all lost. hmmm, LETS GO PENS!