|Department||Client Service Defined Contribution and/or Defined Benefit|
|Reports to||Senior Retirement Plan Consultant|
This position works on the administration of qualified retirement plans (such as 401(k), Profit Sharing, Cash Balance, and Traditional Defined Benefit Plans). This position prepares annual reports for review, interprets and reviews simple plan documents, prepares initial contribution allocations, and obtains data for the preparation of annual reports. This position assists and work with Senior Retirement Plan Consultants.
Essential Duties and Responsibilities
- Assist Other Plan Consultants in obtaining the necessary data for preparation of the annual reports.
- Track data received and not received and follow up with related parties to receive data.
- Initial review and/or preparation of distribution and loans.
- Initial reconciliation of plan assets and allocation of gain/loss, or review of asset reconciliation and allocation of gain/loss
- Initial preparation of annual reporting required on qualified defined contribution and/or defined benefit plans including:
- A review and interpretation of the plan document specifications and application to the employee/participant;
- Prepare initial contribution allocation;
- Reconcile trust accounts to plan accounts;
- Perform non-discrimination testing;
- Prepare IRS Forms 5558, 5330, and 5500 series filings and, from time to time, Forms 5307 and 5310 as well as PBGC Forms;
- Calculate required minimum distributions;
- Navigate excel testing and plan summary file for comparison to pension software file output;
- Initial review and/or preparation of disclosures and notices.
- Communicate when necessary with client, accountant, attorney, and investment advisor on task-oriented issues.
- Other duties as assigned.
Knowledge, Skills and Abilities
- Ability to multi-task, meet deadlines, and work in a fast-paced environment to create high-quality products for review
- Ability to sort through information, assess priorities, and resolve problems efficiently and effectively
- Ability to communicate with clients and colleagues and proactively resolving issues
- Ability to analyze situations and attend to detail to ensure quality
- Proficient in Microsoft Excel
- Proficient in using Microsoft 365 products and other technology to complete tasks.
Education and Experience Requirement
- Associates degree required; Bachelor’s degree preferred
- Applicable and relevant industry designation required to be obtained within two years from date of hire (i.e., ASPPA QKA®, NIPA APA)
Physical Requirement and Work Environment
- Required to sit for long periods of time
- Usual office working conditions and willingness to work in open office environment
- Minimal travel
Standard Work Hours = 8:00 AM – 5:00 PM, Monday – Friday, some overtime may be required