Managing Retirement Plans Part 2

Managing Retirement Plans Part 2

This course is required to earn the following designations: RPA, CEBS

*Important note: The RPA 2 Course (Managing Retirement Plans Part 2) is being extensively revised and a new Study Guide and textbook are required reading for purposes of the CEBS program and the national exam.  These materials will be available beginning October 2021. The updates will be reflected in exams administered on and after January 15, 2022. These updates cover all modules of the course.

Investment of plan assets is a critical component of retirement plan management. Decision making is context-driven; investment performance objectives are set to reflect a plan’s unique funding requirements. With the plan’s performance objectives as a guide, and with awareness of which classes of assets can best facilitate their attainment, investments and investment managers can be selected. Once selected, they can be monitored and evaluated. Investment theory presented is transferable to management of assets in any type of plan. Investment environment, financial markets and instruments, risk and return, asset allocation, performance measurement, and portfolio management techniques are addressed. Examination of investment-specific legislation and regulations, roles and responsibilities of key stakeholders, management of issues in each step of the investment cycle, reporting and communication practices and industry tools and guidelines that support sound plan investment management bring a practical application. Text-based reading is supported with regulatory guidance and industry-based practice guidelines.

Topics covered in RPA 2

  • Navigating the Investment Environment of Employer-Sponsored Retirement Plans
  • Inventorying the Major Asset Classes
  • Managing Investment Risk and Return
  • Constructing an Investment Portfolio
  • Assessing the Impact of Investor Behaviour and Market Anomalies on Active Management
  • Evaluating Active Management Performance
  • Leveraging Managed Funds to Achieve Investment Objectives
  • Complying With Legislative and Best Practices in Plan Asset Investment
  • Developing the Statement of Investment Policy
  • Implementing the Defined Benefit Pension Plan Investment Policy
  • Implementing the Capital Accumulation Plan Investment Policy

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Resources for RPA 2


Successful completion of comprehensive exam            



RPA 2 Study Guide, including online access to the guide and practice exam            



Investments, 8th Canadian Edition,
Special CEBS Edition
McGraw-Hill Ryerson 

*Readings Updates   



Online Study Group With Instructor Support
12-week sessions in fall, spring and summer



Study Guide—Delivered in Print and Online!

The CEBS Study Guide is an essential component for mastering the CEBS material you will be tested on in the examination. Your Study Guide purchase is made through Books for Business and includes both a printed study guide and access to an online environment.

  • Learning Modules provide structured coverage and highlight key elements and critical takeaways of the Assigned Reading. The learning modules draw on readings from Textbooks and journal articles written by leading academics and expert practitioners.
  • Applications are designed to make you think about how what you are learning translates to the work world. Two types of applications are provided throughout the CEBS courses—Benefits in Action and Integrated Cases (Capstone Cases).
  • Practice exam, accessible in the online environment, provides immediate results indicating the areas that may need additional study, along with page reference sources and an explanation of correct responses.


A textbook and/or supplementary readings are required for each course, providing the theory and content of the topics covered in the study guide.

Online Study Group With Instructor Support

Need a little push to stay on track or the security of expert and peer support? Online study groups are for you. Guided study groups provide access to instructors, a structured time frame and peer interaction.

Frequently Asked Questions

Still looking for more information? Check out CEBS FAQ for further details on curriculum updates.