What
is a Professional Plan Consultant™ (PPC™)?
Professional Plan Consultant™ is an Industry Designation
that signifies a financial professional that has completed
a 16-hour training program, met retirement industry
experience requirements, successfully passed a comprehensive
exam, and signed off on a strict code of ethics to use
The 401k Service Solution™ tools to service retirement
plans to a higher standard.
What
are the requirements to become a PPC™? To earn the PPC™ designation, a candidate must
satisfy requirements involving the following:
Professional Experience—A successful candidate
must have three years of financial industry sales,
service, and/or support experience.
Coursework—A PPC™ candidate must attend
an instructor-led, multiple-day training session accredited
by Robert
Morris University to gain a comprehensive understanding
of the issues faced by plan sponsors, how to identify
shortfalls in an employer-sponsored plan, and how
to address plan management issues.
Final Examination—Each candidate must sit
for a proctored, 50-item final examination held at
the conclusion of the multiple-day training session,
and obtain a passing score of 70% or better.
Signed Ethics Statement—Each PPC™ candidate
must sign the Financial Service Standards Code of
Ethics to verify that the individual pledges to maintain
a high standard of conduct, competence, knowledge,
professionalism, integrity, objectivity, and responsibility
in the practice of his or her profession.
Continuing Education—On an ongoing basis,
over a 12-month cycle, each PPC™ designee must complete
a minimum number of continuing education hours in
a format allowed by the FSS Board.
The Value of
Working with a PPC Designee
Professional Plan Consultants™ (PPCs™) can provide plan
sponsors with a formal, documented process called The
401k Service Solution™, that covers the following topics:
Setting plan goals and objectives, and plan design.
The Investment Policy Statement with a checklist
to use to monitor your IPS and investments quarterly.
A provider comparison report, full fee documentation,
and annual expense benchmark report.
A custom-made education program built upon the needs
of participants that is monitored annually for its
effectiveness.
A planning calendar that covers all reviews (investment,
participation, compliance, etc.) that includes a sponsor
education program and a checklist to keep current
with the changes that affect your plan.
A documented process for monitoring the investments
in your plan on a quarterly basis against the criteria
in your IPS and industry benchmarks.
This complete package also includes a binder with
one Handbook (The 401k Service Solution Handbook for
Plan Sponsors and Fiduciaries) that answers general
retirement plan and investment questions, and another
Handbook (Prudent
Practices Handbook for Investment Stewards) that
details the prudent management practices that should
be followed on a qualified plan.
Based on the comprehensive nature of the 401k Service
Solution and the simplicity it brings to managing
an employer-sponsored plan, working with a PPC provides
the un-official* protection plan sponsors need to
meet their fiduciary obligations.
*Fiduciary responsibility cannot be eliminated
but there are ways to reduce liability and show
that prudence is being followed in the management
of your employer-sponsored plan.
Compare Designations used
by Financial Professionals
