Important
Changes for the
Certified Retirement Counselor® (CRC®)
as of October 1, 2008
Most of you are aware
that several state securities departments have passed or are considering
adoption of regulations that limit the use of “senior-specific”
certifications and designations by advisors who sell financial products
and services. As a result, the
North American Securities Administrators Association (NASAA) recently
created a Model Rule that provides guidance for individual state
securities agencies responsible for regulating investor protection and
retirement designations. (Go
to the link below for details.)
http://www.nasaa.org/content/Files/Senior_Model_Rule_Adopted.pdf
The CRC currently
meets the requirements of NASAA’s Model Rule.
However, for the benefit of consumers and our certificants, we
believe it is also important to have the CRC independently accredited to
distinguish it among available retirement-oriented designations. Accreditation
indicates that those who hold the certification have met and maintain
independently validated minimum levels of knowledge and competency
regarding retirement counseling.
Last August, we
announced that we began the accreditation process with the National
Commission for Certifying Agencies (NCCA).
To help the CRC meet NCCA accreditation standards, two important
program changes will go into effect October 1, 2008 that affect both
public and private sector CRC candidates.
1)
Candidates may currently be
tested by either one comprehensive exam or four separate exams.
After October 1, the
comprehensive exam will be the only exam format offered.
The new comprehensive exam will be based on an updated practice
analysis of what a retirement counselor needs to know to help clients and
employees prepare for retirement.
2)
Certification
fees will be increasing due to accreditation costs.
For
more information go to http://www.infre.org/pages/futurecrcenrollees.html
Briefly, if you or
others within your organization are considering professional
certification, we urge you to enroll in the CRC before October 1, 2008.
If you have any questions
about these upcoming changes to the CRC program or want to enroll a group
of individuals before October 1, 2008, please contact Amy Hayes at
847-756-7350, ext. 134 or email her at ahayes@infre.org.
International
Foundation for
Retirement Education
P.O. Box 1860
Lubbock, TX 79408-1860
Ph.
847-756-7350 FAX:
806-742-6102
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