RPA Retirement Plans Associate Mock Tests

RPA 1: Directing Retirement Plans (Part 1)This section focuses on the foundational design of retirement plans, individual retirement needs, and the regulatory environment governing employer-sponsored programs.I. Retirement Planning FoundationsIndividual Retirement Needs: Assessing capital accumulation requirements, inflation impact, and longevity risk.Social Security Medicare: Integration of public benefits with private employer plans; eligibility, funding, and benefit calculations.Tax-Qualified Plan Characteristics: Internal Revenue Code (IRC) requirements, tax advantages for employers/employees, and non-discrimination testing basics.II. Defined Contribution (DC) Plan DesignProfit-Sharing Plans: Contribution flexibility, allocation formulas, and vesting schedules.401(k) Features: Safe Harbor provisions, automatic enrollment, and employee elective deferrals.Other DC Variations: Money purchase plans, 403(b) tax-sheltered annuities, and 457 deferred compensation plans for governmental/non-profit sectors.Individual Accounts: Simplified Employee Pensions (SEP) and Savings Incentive Match Plan for Employees (SIMPLE) IRAs.III. Defined Benefit (DB) Plan DesignTraditional Pensions: Benefit formulas (flat-benefit vs. unit-benefit), accrual methods, and funding standards.Hybrid Plans: Cash balance plans and pension equity plans; advantages of "portable" DB structures.Plan Termination Insurance: Role of the Pension Benefit Guaranty Corporation (PBGC) and fiduciary responsibilities during plan wind-downs.RPA 2: Directing Retirement Plans (Part 2)This section shifts focus to the operational management, investm