- Organizational Skills
- Customer Service
- Analysis Skills
- Microsoft Outlook
Section 1: Position Summary
Working directly with clients, provide advanced consulting services and annual administration primarily of Defined Benefit (DB) and including some Defined Contribution (DC) Qualified Retirement Plans to ensure excellent client service and profitable results.
Section 2: Job Functions, Essential Duties and Responsibilities
Manage and complete all aspects of administration of a caseload consisting of Defined Benefit and Defined Contribution Plans (80-120) including but not limited to preparation of actuarial valuations, required minimum distributions, PBGC calculations and termination distribution calculations.
Focus on goals to meet standard turnaround times, maintain client satisfaction and retention and achieve profitability.
Analyze provisions in plan documents to insure compliance with IRS and DOL regulations and determine eligibility, plan entry dates, compensation definition, contribution formula and allocation, vesting, and distributable events, including the form and timing of distributions.
Calculate employer contributions including related non-discrimination testing, coverage testing and other compliance requirements for more complex plans.
Allocate employer contributions after considering top-heavy status, deductibility limits, and impact of forfeitures, which may include complex forfeitures.
Coordinate DOL, IRS and Accountant Audits.
Review plan annually to make recommendations to client to maximize tax advantages or other benefits for client.
Identify issues related to fiduciary responsibilities, such as adequate bonding, impact of nonqualified assets on bonding, and prohibited transactions.
As needed, assist in calculating and processing all distribution types and loans.
Ensure current internal policies and procedures are consistently adhered to.
Provide leadership and mentor team members and assist in developing their knowledge and skills.
Inform Plan Administration Manager and Administrators of workflow status on a regular basis.
Research and resolve technical issues.
Assist in checking work prepared by team members.
Support change, company policies and procedures in a positive and motivational manner.
Assist in special projects as needed; perform other related tasks as required.
Meet or exceed all quality, productivity and turnaround goals.
May be required to work extra hours during peak periods / or as necessary.
Section 3: Experience, Skills, Knowledge Requirements
Competence in all areas of Defined Benefit Plan administration and intermediate level of competence in Defined Contribution/401(k) Plan administration.
Knowledge of IRS corrective procedures, deadlines and related penalties.
Knowledge of methods for researching DOL, IRS and other related regulations, procedures and correction programs.
Thorough understanding of a plan’s administrative cycle, including IRS and DOL filing requirements and deadlines.
Thorough understanding of the current laws and regulations governing qualified retirement plans.
Thorough understanding of policies and procedures required for timely and compliant plan administration.
Ability to effectively communicate, both in writing and orally, with a wide range of external and internal contacts in a professional manner.
Ability to encourage and mentor Pension Administrators in a positive manner to achieve enhanced performance.
Maintain positive attitude when addressing questions and problems.
Ability to work under pressure of deadlines and demanding clients while remaining calm.
Good organizational skills and ability to set priorities consistent with service standards.
Adjust priorities with changes in the annual business cycle of pension administration.
Ability to promote a positive and professional working environment.
Ability to offer creative solutions to difficult challenges.
Ability to problem solve client issues.
Analytical and critical-thinking skills.
Excellent interpersonal skills.
Good judgment and decision-making.
Software Skills: Excel, Word, Outlook, Adobe. ASC Admin and Documents and Governmental Forms (DGEM) experience preferred.
Five+ years pension administration experience requiring critical thinking, analysis, detail orientation and customer service preferred. Associate’s degree (AA) or equivalent from two-year college or technical school; or equivalent combination of education and experience.
CPC, QPA, QKA and/or APA desirable.
We are proud to be an Equal Opportunity Employer
Ascensus is a place to have a career, not just a job. As the largest US independent retirement and college savings services provider, we put our focus on people. Our culture is guided by sound principles, is committed to high standards, operates with transparency, and welcomes diversity. When you join our team, you get to go to work every day knowing that you help over 6 million Americans save for retirement and college.
Ascensus is an Equal Opportunity Employer and does not discriminate on the basis of race, color, creed, national origin, ancestry, religion, age, citizenship, sex, marital or veteran status, disability or handicap, sexual orientation or any other basis prohibited by applicable law. Ascensus also takes affirmative action to employ, and advance in employment, qualified women, minorities, and covered veterans. Ascensus also makes reasonable accommodations for qualified individuals with disabilities, in accordance with the Americans with Disabilities Act and applicable state laws