The Retirement Plan Consultant (RPC) will be responsible for the day-to-day management of an assigned caseload of Defined Benefit/Cash Balance/401(k) Combo Plans.
Primary Duties:
· Single point of contact and “ownership” for assigned clients
· Closely working with assigned Actuarial Analyst and Consulting Actuary
· Assigned case of 130-150 combination plans, primarily Cash Balance/401k Plans.
· Provide support to Senior Retirement Plan Consultants and assist in training of Retirement Plan Associates
· Provide support to financial advisors and referral sources
· Ability to accurately interpret and apply plan document provisions
· Ensure compliance with DOL and IRS requirements
· Preparation and review of 401(k) Plan Trust Accounting
· Annual compliance testing for assigned clients (402(g), 415(c), 410(b), ADP/ACP, Plan Limits, Top Heavy, etc.)
· Preparation and filing of Form 5500 and related schedules
· Prepare employer plan contribution calculations using all types of allocation methods
· Assist clients with locating missing participants and securing ERISA bonding
· Required Minimum Distribution (RMD) determination and processing
· Ensure proper coordination and delivery of annual required notices
· Represent the company on client calls and in client meetings, as needed
· Review of Retirement Plan Associate work within team environment
· Support the retirement plan implementation, conversion, de-conversion and termination processes
Qualifications:
· Demonstrated excellence in written and verbal communication
· Proficient 401(k) Plan Compliance testing. Experience with Cash Balance and Defined Benefit Plans a plus
· Must be detailed and possess strong organizational skills. Solutions oriented
· Time management focused adhering to deadlines and timelines
· Ability to work independently and as part of a team in a fast-paced environment
· Experienced with ASC software
· Understand plan documents (Basic Plan Document, Adoption Agreement, Summary Plan Description (SPD), Amendments, Summary of Material Modifications (SMM) and annual notices)
· Understand the annual lifecycle of plan (data collection, eligibility, compliance testing, trust accounting and Form 5500 preparation and filing)
Minimum 3 years of experience in a financial services operations environment
· Broad knowledge of the retirement plan industry, willingness to obtain ASPPA QKA designation or NIPA equivalent
· Bachelor’s Degree in Actuarial Science, Accounting, Finance or related field: equivalent experience may be considered in lieu of degree