Core knowledge base:

• Tax law applicable to retirement plan sponsors and participants
  
• Investment vehicles/strategies/attributes and their application and suitability in various scenarios
  
• Labor laws pertaining to fiduciary responsibilities, plan participation and coverage guidelines
  
• Familiarity with the full menu and scope of plan options available to sponsors
• Understanding of HR procedures, payroll procedures, audits, and strategic guidance of employee benefits

Essential skills and abilities:

• Analytical, relating to matching the identified needs with the best plan options and designs
  
• Communications, given the necessity of gathering input, marshaling resources and staying on top of reporting requirements
  
• Educational, considering the importance of explaining esoteric options, concepts and regulations to novice clients
  
• Detail orientation, owing to the importance of ensuring that precise compliance procedures are followed
  
• Administrative, due to the importance of setting up policies and procedures for reporting and compliance
  

Formal training and education assets:

• Certifications based on training through groups like the American Society of Pension Professionals & Actuaries, such as Certified Pension Consultant, Qualified Pension Administrator and Accredited Fiduciary Administrator.
  
• Labor lawyer/pension plan attorney specialization
  
• Financial professional designations such as Certified Financial Planner (CFP) or Certified Fund Specialist (CFS)
  
• Actuarial, such as Fellow of the Society of Actuaries (FSA) or Associate of the Society of Actuaries (ASA)