SUMMARY DESCRIPTION
The Retirement Plan Consultant position duties include servicing clients, advisors, CPAs and mutual professionals performing annual administration for defined contribution plans. This includes preparing annual reports for review, interpreting and reviewing plan documents, tracking data and following up with clients and identifying potential plan redesign opportunities. This position reports to Senior Managers.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Preparation and review of annual reporting and use of judgment required on qualified defined contribution plans for reviewer and senior manager review
- Review and interpret the plan document specifications and apply to the employee/participant
- Prepare contribution allocation using new comparability formula maximum
- Review Reconciled trust accounts to plan accounts
- Perform non-discrimination testing (combined plan where applicable)
- Prepare IRS Forms 5558, 5330, and 5500, 8955
- Calculate required minimum distributions
- Prepare excel testing and contribution file for comparison to pension software file output
- Identify highly compensated and key employees
- Utilize and maintain database fields tracking plan provisions, contact info, receipt of client data, and updated client information
- Review draft amendments and plan documents
- Provide high-quality service with clients, accountants, attorneys and investment advisors on plan related issues. Develop long-term working relationships
- Track data and follow up with related parties to receive data.
- Meet stringent industry, client and company turnaround times while maintaining client caseload
- Review of participant disclosures and notifications
- Review and recognize potential plan redesign opportunities and prepare estimates
- Identify potential prohibited transactions such as late deposits and impermissible loans
- Train other team members, as needed
- Review and make decisions on client invoicing and the work of others, as needed
KNOWLEDGE, SKILLS AND ABILITIES
- Detailed oriented in all aspects of administration including compliance testing and trust accounting
- Knowledge of IRS/ERISA regulations is beneficial
- Advanced proficiency in using Microsoft Office products and other technology to complete tasks. ASC experience helpful
- Pension Pro experience is beneficial
- Demonstrated ability to multi-task, meet deadlines, and work in a fast-paced environment to create high-quality products and solutions to be reviewed by managers and reviewers
- Demonstrated technical knowledge and interpersonal communication skills needed to effectively and diplomatically review others' work
- Demonstrated ability and willingness to take full responsibility for assigned client plans, completing work in a timely manner, communicating with clients, collaborating with colleagues, and proactively resolving issues
- Demonstrated ability to analyze situations and attention to detail to ensure quality
- Willingness to champion special projects
Requires defined contribution plan administration expertise, compliance testing, trust accounting, client communication, analytical and organizational skills. Knowledge of IRS/ERISA regulations and ASC or Pension Pro experience is beneficial.
Key Responsibilities
- preparing reports
- testing compliance
- servicing clients
Skills & Tools
Microsoft Office, Microsoft Excel, ASC, Pension Pro
Job Details
- Category: Finance and Accounting
- Seniority: Mid Level
- Commitment: Full Time
- Workplace: Remote — United States
- Languages: English
About BeachFleischman
A professional services firm providing retirement plan administration and consulting support. — Industry: Finance