Qualified Plan Administrator
This position is responsible for day-to-day administration of qualified retirement plans in a client-focused environment. Responds to telephone and email inquiries from plan participants, the plan, and investment advisors. The Qualified Plan Administrator is also responsible for annual compliance testing and the preparation of client reports and the annual 5500 forms, and also:
- Reconciles all plans daily
- Prepares and balances quarterly plan reports
- Prepares quarterly participant statements for all assigned plans
- Performs annual compliance testing
- Calculates profit sharing contributions for affected plans
- Prepares 5500 annual reports
- Acts as the corporate liaison to all assigned plans ( includes participants, plan sponsors, financial representatives and advisors)
- Coordinates and completes new plan conversions and plan de-conversions
- Calculates advisor fees for assigned plans. Prepares invoices for TCA quarterly fees for assigned plans. Processes appropriate redemptions for all fee transactions.
- Acts as a back-up for daily transaction processing (contributions, loans, distributions and fund transfers)
- Processes Advisor models, including re-balancing on the recordkeeping system
- Prepares and distributes annual Safe Harbor notices
- Executes and collaborates on a multitude of compliance-related activities such as government filings, required annual disclosures and external audits.
Must have an intermediate level knowledge of types of retirement plans, ERISA regulations, and retirement industry terminology. Must be able to prepare a 5500 form. Must have a basic understanding of how different business structures work and how investments are traded. A Bachelor’s degree or equivalent experience is required. At least 4 years’ experience in the retirement industry is required.
Must be able to reconcile and balance qualified plan accounts. Must be able to design Excel spreadsheets using intermediate level functions. Must be able to research complex retirement plan compliance issues and perform complex compliance tests on those plans. Needs to be able to communicate well both orally and in written correspondence.
This position requires a very careful adherence to well-defined work where repeatable results are needed.
The work is highly precise in nature and requires very strong attention to detail. It is vital for the work output to be very high quality, with correct results, time and time again.