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Retirement Industry Acronyms and AbbreviationsLike many industries, the retirement profession is acronym and abbreviation crazy. We have compiled this list of the more common acronyms and abbreviations to help those who are not familiar with their meaning. ABPT = Average Benefit Percentage Test ABT = Average Benefits Test ACA = Automatic Contribution Arrangement ACP = Actual/Average Contribution Percentage ADP = Actual/Average Deferral Percentage ADR = Actual Deferral Ratio AIF = Accredited Investment Fiduciary AIFA = Accredited Investment Fiduciary Analyst AGI = Adjusted Gross Income ANPR = Advance Notice of Proposed Rulemaking ARP = Association Retirement Plan ATRA = American Taxpayer Relief Act of 2012 BD = Broker Dealers BIC = Best Interest Contract BICE = Best Interest Contract Exemption BOPY = Beginning of Plan Year CAA = Consolidated Appropriations Act of 2021 CEBS = Certified Employee Benefits Specialist CFA = Chartered Financial Analyst CFP = Certified Financial Planner ChFC = Chartered Financial Consultant CIA = Certified Internal Auditor CIMA = Certified Investment Management Analyst CIO = Chief Investment Officer CIT = Collective Investment Trust CLU = Chartered Life Underwriter CMT = Chartered Market Technician COBRA = Consolidated Omnibus Budget Reconciliation Act CODA = Cash or Deferred Arrangement COLA = Cost of Living Adjustment CPA = Certified Public Accountant CPC = Certified Pension Consultant CRA = Certified Retirement Administrator CRC = Certified Retirement Counselor CRO = Chief Retirement Officer CRSP = Certified Retirement Services Professional CSP = Covered Service Provider CTF = Common Trust Fund CTPA = Compliance Third Party Administrators CVA = Certified Valuation Analyst CVRD = Coronavirus-Related Distributions DB = Defined Benefit DB(k) = Defined Benefit 401k combined plan DC = Defined Contribution DCIO = Defined Contribution Investment Only DDQ = Due Diligence Questionnaires DFVC = Delinquent Filer Voluntary Compliance program DIA = Deferred Income Annuity DIA = Designated Investment Alternative DOL = Department of Labor DOMA = Defense of Marriage Act DPSP = Deferred Profit Sharing Plan DRA = Deferred Retirement Annuities DRO = Domestic Relations Order EACA = Eligible Automatic Contribution Arrangement EBAR = Equivalent Benefit Accrual Rate EE = Employee EESA = Emergency Economic Stabilization Act EFT = Electronic Fund Transfer EGTRRA = Economic Growth and Tax Relief Reconciliation Act of 2001 EIN = Employer Identification Number EOPY = End of Plan Year EPCRS = Employee Plans Compliance Resolution System EPS = Education Policy Statement ER = Employer ERD = Eligible Rollover Distribution ERISA = Employee Retirement Income Security Act ERPA = Enrolled Retirement Plan Agent ESG = Environmental, Social, Ethical and Governance ESOP = Employee Stock Ownership Plan ESPP = Employee Stock Purchase Plan ETF = Exchange Traded Fund ETI = Economically Targeted Investments FAB = Field Assistance Bulletin, issued by the U.S. Department of Labor FDL = Favorable Determination Letter FIA = Fixed Indexed Annuity FICA = Federal Insurance Contributions Act FINRA = Financial Industry Regulatory Authority FIT = Federal Income Tax FLMI = Fellow of the Life Management Institute FSA = Fellow of the Society of Actuaries FT = Full-Time GIC = Guaranteed Investment Contract GIF = Guaranteed Investment Fund GLIO = Guaranteed Lifetime Income Option GLWB = Guaranteed Lifetime Withdrawal Benefit GMWB = Guaranteed Minimum Withdrawal Benefits GUST = An acronym that stands for a series of four tax laws that also made changes to how retirement plans operate. HCE = Highly Compensated Employee IA = Investment Analyst IFC = Investment Fiduciary Consulting IGVS = Investment Grade Value Stocks IPS = Investment Policy Statement IQPA = Independent Qualified Public Accountant IRA = Individual Retirement Account IRC = Internal Revenue Code IRR = In-Plan Roth Rollover IRS = Internal Revenue Service IRT = In-Plan Roth Transfer JEPPS = Joint Expert Panel on Pension Standards KSOP = Combined ESOP and 401k Plan LIMRA = Life Insurance Marketing and Research Association LSD = Lump-Sum Distribution LTPT = Long-Term Part-Time LVP = Low Volatility Pension Plan M&P = Master and Prototype MCIM = Market Cycle Investment Management MEP = Multiple Employer Plan MMF = Money Market Fund MPRA = Multiemployer Pension Reform Act NAPA = National Association of Plan Advisors NDCT = Nondiscriminatory Classification Test NEC = Non-Elective Contribution NHCE = Non-Highly Compensated Employee NQDC = Non-Qualified Deferred Compensation NRA = Normal Retirement Age NUA = Net Unrealized Appreciation OAR = Outsourced Administrative Responsibilities OIAI = Once-in-always-in OPEB = Other Post Employment Benefits ORP = Optional Retirement Plan PBGC = Pension Benefit Guaranty Corporation PDT = Permissive Disaggregation Test PEO = Professional Employer Organization PEP = Pooled Employer Plan PII = Personally Identifiable Information PIN = Personal Identification Number PLR = Private Letter Ruling PPA = Pension Protection Act of 2006 PPACA = Patient Protection and Affordable Care Act PPP = Pooled Plan Provider PT = Part-Time PTE = Prohibited Transaction Exemption PY = Plan Year PYE = Plan Year-End QAB = Quality Assurance Bulletin issued by the IRS QACA = Qualified Automatic Contribution Arrangement QBAD = Qualified Birth and Adoption Distribution QDIA = Qualified Default Investment Alternative QDRO = Qualified Domestic Relations Order QJSA = Qualified Joint And Survivor Annuity QKA = Qualified 401k Administrator QLAC = Qualified Lifetime Annuity Contract or Qualifying Longevity Annuity Contract QMAC = Qualified Matching Contribution QNEC = Qualified Non-Elective Contribution QOSA = Qualified Optional Survivor Annuity QPA = Qualified Pension Administrator QPAM = Qualified Professional Asset Manager QPDA = Qualified Plan Distributed Annuity QPFC = Qualified Plan Financial Consultant QPLO = Qualified Plan Loan Offset QPSA = Qualified Pre=retirement Survivor Annuity QSAT = Questionnaire Self-Audit Tool QSLOB = Qualified Separate Lines of Business QTA = Qualified Termination Administrator QTIP = Qualified Terminable Interest Property RAP = Remedial Amendment Procedure RBD = Required Beginning Date REIT = Real Estate Investment Trust RFI = Request for Information RFP = Request for Proposal RIA = Registered Investment Advisor RIG = Retirement Income Generator RMD = Required Minimum Distribution RPA = Retirement Plans Associate RPF = Responsible Plan Fiduciaries RRIF = Registered Retirement Income Fund (Canada) SAR = Summary Annual Report SARSEP = Salary Reduction Simplified Employee Pension Plan SBJCA = Small Business Jobs and Credit Act of 2010 SBJPA = Small Business Job Protection Act SCOTUS = Supreme Court of the United States SCP = Self-Correction Program SDBA = Self-Directed Brokerage Account SECURE = Setting Every Community Up for Retirement Enhancement Act of 2019 SEP = Simplified Employee Pension SEPP = Substantially Equal Periodic Payment SHMAC = Safe Harbor Match Contribution SHNEC = Safe Harbor Non-Elective Contribution SIMPLE = Savings Incentive Match Plan for Employees (of Small Employers) SMM = Summary of Material Modifications SPD = Summary Plan Description SSA = Social Security Administration SSN = Social Security Number SSP = State-Based Savings Programs TAA = Tactical Asset Allocation TAMRA = Technical and Miscellaneous Revenue Act TCJA = Tax Cuts and Jobs Act TDF = Target-Date Fund TEFRA = Technical and Miscellaneous Revenue Act TFSA = Tax-Free Savings Account (Canada) TPA = Third Party Administrator TRA = Taxpayer Relief Act of 1997 TRO = Total Retirement Outsourcing TSA = Tax-sheltered Annuity UPIA = Uniform Prudent Investment Act USERRA = Uniformed Services Employment and Reemployment Rights Act VFCP = Voluntary Fiduciary Compliance Program VIA = Variable Immediate Annuity VRU = Voice Response Unit VS = Volume Submitter WFTRA = Working Families Tax Relief Act of 2004 WRERA = The Worker, Retiree and Employer Recovery Act of 2008 YOS = Year of Service Feel free to contact us with corrections or additions. |
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