ERPA EXAMINATION LEARNING OBJECTIVES (CONFIRM THESE ARE FINAL LO – COMPARE TO SARAHS FILE)

Internal Revenue Service Enrolled Retirement Plan Agent Special Enrollment Examination (ERPA-SEE) Syllabus Part I: Compliance and Operational Issues I. General Description The syllabus for Part I of the ERPA-SEE outlines issues affecting compliance and operation. These issues include participation, coverage, vesting, contributions, allocation and accruals, limits, nondiscrimination testing (including ADP and ACP), top-heavy, related employer issues, elective deferrals and deductibility. Part I also includes the legal framework under which retirement plans operate. II. Learning Objectives A. Participation, Coverage and Vesting 1. Identify allowable minimum age and service requirements for eligibility. 2. Define the eligibility computation period. 3. Determine breaks-in-service and identify how they impact eligibility and vesting. 4. Identify permissible plan entry dates. 5. Determine which plans must meet minimum coverage requirements. 6. Identify excludable employees for coverage testing. 7. Calculate the ratio percentage test to determine whether coverage is satisfied. 8. Define the minimum participation rules applicable to a defined benefit plan. 9. Identify permissible vesting schedules, vesting service and vesting changes under PPA. 10. Identify impact of a change of vesting schedule. 11. Determine when forfeitures may occur and their permitted uses. B. Contributions, Allocation and Benefit Formulas and Accrual Rules ...