Section 1: Position Summary
Serve as a resource to plan sponsors and financial advisors for matters related to ERISA compliance, plan design, and governmental reporting. This person is the single point of contact for employer, financial profession, and plan sponsor for their accounts. A Retirement Plan Consultant is able to handle client meetings both in person and via phone. This position serves as the retirement Plan expert on testing, 5500, loans, and distributions. Additionally, this individual can easily grasp plan design with the ability to assist in plan operation and document updates.
Section 2: Job Functions, Essential Duties and Responsibilities
Provide timely, exceptional customer service, including problem solving and issue resolution with minimal inconvenience to clients.
Provide effective verbal and written communications in a clear, concise and informative manner.
Act as a mentor to Retirement Plan Coordinators, collaborating to meet or exceed defined business objectives, firm goals, and client obligations, as applicable.
Assist clients with all initial and ongoing plan design and document needs, including promoting awareness and educating all clients regarding their obligations with the IRS and DoL regulations.
Assist clients in meeting all IRS and Department of Labor deadlines necessary for qualified retirement plans.
Assist clients with Service and IRS Plan terminations.
Maintain up-to-date knowledge of present legislation and proposed legislative changes with regard to ERISA law through self-study and company-sponsored training sessions.
Complete/Assist with payroll processing as required by the products assigned.
Accountable for all aspects of valuation reports, participant statements, and annual testing.
Review or perform, as needed, the annual testing for plans, including ADP/ACP, Top Heavy, 410(b), 415, 401(a)(4), deductibility, and 402(g).
Work with assigned coordinator(s) to provide compliant and accurate valuation reports, participant statements, trust accounting, annual testing, and reporting as applicable.
Review distribution paperwork and coordinate processing of distributions with asset holder.
Review loan paperwork and coordinate processing of loans with asset holder.
Review or prepare Form 5500 and coordinate with plan sponsor to help ensure timely filing.
Assist auditors if a plan is subject to an audit.
Assist IRS and DOL auditors, if the plan is subject to an IRS or DOL audit.
Coordinate with all applicable parties, both internal and external, to ensure accurate conversion process for new clients (including but not limited to actuaries, financial advisors, attorneys).
As applicable, work with assistant to coordinate and oversee activities that will ensure timely and accurate completion of book of business.
Assist with other tasks and projects as assigned.
Section 3: Experience, Skills, Knowledge Requirements
Bachelor's degree preferred.
3-5 or more years ERISA experience in the retirement industry.
Experience in analysis of financial data required.
Experience in Relius software desirable, but not required.
Strong Word, Excel, and Outlook skills.
Strong written and oral communication skills.
Strong analytic mentality associated with problem-solving skills.
Detail-oriented with the ability to prioritize and manage tasks to partner with business operations, including related ERISA compliance matters.
Ability to effectively plan and assign work to and oversee plan associates that are qualified to assist with plan modifications.
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