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ASPPA To Offer Government Plan Designation

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The American Society of Pension Professionals & Actuaries is helping another group run a 403(b) plan and 457 plan education program.

ASPPA, Arlington, Va., says it will work with the National Tax Sheltered Accounts Association, St. Louis, to offer a new Tax-Exempt and Governmental Plan Consultant designation.

The TGPC program is designed for professionals who work with retirement plans serving employees of government agencies and other tax-exempt employers.

To get and keep the credential, applicants must pass four exams, meet ASPPA continuing education requirements, and agree to be subject to the ASPPA Code of Professional Conduct, ASPPA says.

Topics covered in the program classes include eligibility, vesting, contribution types and limits, nondiscrimination rules, allowable investments, contract exchanges, transfers, and plan documents.

The program should be useful to professionals helping plans cope with the new 403(b) plan rules that are taking effect this year, ASPPA says.

One major change is a new requirement that 403(b) plans provide formal written plan documents.