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SRI 230 — Retirement Administration and the Customer Experience

Course Type: Highly Interactive Online Course
Topics: Financial Services & Financial Planning, Marketing & Business Acquisition, Operations & Administration, Retirement & Annuities
Designations: ASRI, FSRI
Language: English


Conveniently offered in a highly interactive online format, SRI 230 delivers knowledge about administration functions for existing retirement accounts, products, and plans and incorporates a theme of enhancing the customer experience.

This course is currently under development, with availability projected for 2015. 


  • In-force Retirement Business Activities
    ◦Beginning when an Account or a Case Takes Effect
    ◦Continuing to Termination of the Case or Account
  • Business Acquisition and Activities/Functions of Retirement Administration
  • Design of the Customer Experience, Including Behavioral Finance
  • Contact Center Administration and Compliance
  • Routine Maintenance Transactions (All Product Types)
  • Financial Transactions for Individuals
  • Plan Sponsor Service and Transactions
  • Routine Reporting and Disclosure

I. Overview of Retirement Business Administration

(beginning when an account or a case takes effect and continuing to termination of the account or case)

Importance of Retirement Business Administration and Service to the Customer Experience and Company Success

Features of Retail Administration and Institutional Administration

Types of retirement savings, investment, and income vehicles

Roles of stakeholders, including product or plan purchasers, product or plan providers, plan participants, beneficiaries, advisors, plan consultants, plan administrators, service providers

Processes for retirement business administration/service

Documents required for retirement business administration/service

Retirement Administration Activities/Functions

Recording information

Processing transactions (financial and non-financial)

Providing communications, reports, and other information

Providing service to customers

Information Technology (IT) for Retirement Business Administration

Importance of automation

IT tools for retirement business administration and service

Data governance


Risk Management for Retirement Business Administration

Controls and audits

Process improvement

Quality Management (QM) for Retirement Business Administration

Importance of QM to the company and customers

QM principles and systems

Tools for quality analysis

II. Environmental Factors Affecting Retirement Business Administration

Legal/Regulatory/Compliance Issues Associated with Retirement Business Administration Activities


Labor laws

Securities laws

Insurance laws

Tax laws

Other laws and regulations (e.g., privacy, AML)

Corporate Circumstances that Affect Retirement Business Administration

Company goals

Company and functional area strategies

Expertise in company

Company culture and organization

Financial Environment Impact on Retirement Business Administration

Consumer demographics/numbers of retirees and pre-retirees

Consumer readiness for retirement

Money in motion; asset leakage; competition in the retirement industry

Retirement Business Administration/Service Area Interactions with Other Areas of the Company

III. Delivery Options for Retirement Business Administration Activities

Company Employees

Organization of retirement business administration activities by function, communication channel, product, customer, etc.

External Parties

Types of administration/service vendors (e.g., record keepers, TPAs, other vendors)

Reasons for outsourcing retirement business administration/service activities

Selecting vendors for retirement business administration/service activities

Managing vendors for retirement business administration/service activities

IV. Transaction Processing for Retirement Business

Basic Steps for All Transactions for Retirement Business

Authentication of request

Documentation of the request and transaction

Confirmation of the transaction

Account Maintenance (non-financial) Transactions for Retail Customers and Plan Participants

Changes to account records, such as changes to owner/participant information, beneficiary, advisor, service requests, and future investment allocations

Related IT, compliance, risk management, QM, and customer experience issues

V. Financial Transaction Processing for Retirement Business: Retail Customers and Plan Participants

Types of Transactions Performed (e.g., contributions, roll-ins, 1035 exchanges, trade-related transactions, rebalancing, loans, withdrawals, distributions, roll-outs, account terminations)

Processes, including any fee assessments

Related IT, compliance, risk management, QM, and customer experience issues

VI. Plan Sponsor Service and Transaction Processing for Retirement Business

Types of Service and Transactions Performed [changes to the account, population changes, business changes, funding changes, plan changes, due diligence on funds available, compliance services (including testing), tracking services, record keeping and record retention, plan freezes/terminations]


Related IT, compliance, risk management, QM, and customer experience issues

VII. Routine Reporting and Disclosure for Retirement Business

Reporting (e.g., investment performance) and Other Communications to Customers

Reporting on Behalf of Plan Sponsors (Section 415, Form 5500)

SEC Reporting

Accounting Activities

Related IT, compliance, risk management, QM, and customer experience issues

VIII. The Customer Experience and Retirement Business Administration

Characteristics of an Exceptional Customer Experience

Behavioral economics concepts relevant to retirement business administration

Purposes (including customer and asset retention) and strategies for exceptional customer experience (including design for customer contacts, education/financial literacy, tiered service, special services, customization) in retirement business administration

The Customer Contact Center for retirement business

Purposes of the retirement business contact center

Retirement business contact center organization

Retirement business customer service delivery

Characteristics and benefits of effective customer service for retirement business

Service delivery channels for retirement business, including self-service

Complaint management for retirement business

Performance measurement (quantitative and qualitative) for retirement business customer service

IT for the retirement business contact center

Related compliance, risk management, QM, and customer experience issue

Course Format

Course Portals include the following elements:

  • PDFs of the assigned course materials that can be printed or read online
  • The same interactive Practice Questions and Sample Exams currently found in LOMA Test Preparation Guides (TPGs)
  • Recommended study plans to help learners set goals and manage their study schedule
  • A variety of additional media-oriented features designed to enhance the study and review process