Retirement Plan Administrator - Plan Terminations
Job Summary:
The Retirement Plan Administrator - Plan Terminations is responsible for managing the complete process of terminating employer-sponsored retirement plans, including the performance of required nondiscrimination testing and the preparation of contribution calculations. This role ensures compliance with regulatory requirements, coordinates with plan sponsors, service providers, and participants, and facilitates the efficient distribution of plan assets. The specialist acts as a subject matter expert on plan termination procedures and provides guidance throughout the process to ensure a smooth transition for all stakeholders.
This position is eligible for fully remote or hybrid in our Stratham, NH office.
Duties/Responsibilities:
• Oversee all aspects of plan termination, including initial planning, timeline development, communication, and execution of required actions.
• Ensure all plan terminations adhere to IRS, DOL, and ERISA regulations, including proper filing of required forms (e.g., IRS Form 5500, final Form 5500, IRS Form 1099-R).
• Prepare, review, and submit necessary documentation and reports to regulatory agencies and plan sponsors.
• Educate plan sponsors on the steps of plan termination, how to communicate options for distributions or rollovers to participants, and provide support throughout the process.
• Coordinate and oversee the distribution of plan assets, ensuring accurate and timely payments to participants and beneficiaries.
• Work closely with third-party administrators, accounting, document team, recordkeepers, legal counsel, and other vendors to ensure all aspects of the termination are handled appropriately.
• Address and resolve any participant or plan sponsor concerns related to the termination process.
• Identify opportunities to streamline plan termination procedures and enhance client experience.
• Lead communication with plan sponsors, recordkeepers, and financial advisors throughout the plan termination process.
• Collaborate with Compliance, Relationship Managers, Finance and Plan Document teams throughout the process.
• Perform required annual non-discrimination testing and prepare contribution calculations on active plans as assigned from Director of Compliance.
Requirements
Required Skills/Abilities/Certifications:
• Strong knowledge of IRS, DOL, and ERISA regulations related to retirement plans.
• Excellent organizational and project management skills.
• Outstanding written and verbal communication abilities.
• Ability to work independently and collaboratively within a team environment.
• Detail-oriented with a commitment to accuracy and compliance.
Education and Experience:
• Preferred Bachelor's Degree in accounting, finance, communications, or related field (or equivalent experience).
• Minimum 3 or more years of experience in A-Z retirement plan administration, with specific expertise in 401(k) plan terminations preferred.
• Experience using FTW and PensionPro preferred.
• Proficient with Microsoft Office Suite applications, especially Outlook and Excel.
• Professional certifications such as QKA, or APA, and ASPPA/NIPA membership are a plus.
Salary Description
DOE $65,000 - $80,000/year plus annual bonus
Apply tot his job
Apply To this Job
The Retirement Plan Administrator - Plan Terminations is responsible for managing the complete process of terminating employer-sponsored retirement plans, including the performance of required nondiscrimination testing and the preparation of contribution calculations. This role ensures compliance with regulatory requirements, coordinates with plan sponsors, service providers, and participants, and facilitates the efficient distribution of plan assets. The specialist acts as a subject matter expert on plan termination procedures and provides guidance throughout the process to ensure a smooth transition for all stakeholders.
This position is eligible for fully remote or hybrid in our Stratham, NH office.
Duties/Responsibilities:
• Oversee all aspects of plan termination, including initial planning, timeline development, communication, and execution of required actions.
• Ensure all plan terminations adhere to IRS, DOL, and ERISA regulations, including proper filing of required forms (e.g., IRS Form 5500, final Form 5500, IRS Form 1099-R).
• Prepare, review, and submit necessary documentation and reports to regulatory agencies and plan sponsors.
• Educate plan sponsors on the steps of plan termination, how to communicate options for distributions or rollovers to participants, and provide support throughout the process.
• Coordinate and oversee the distribution of plan assets, ensuring accurate and timely payments to participants and beneficiaries.
• Work closely with third-party administrators, accounting, document team, recordkeepers, legal counsel, and other vendors to ensure all aspects of the termination are handled appropriately.
• Address and resolve any participant or plan sponsor concerns related to the termination process.
• Identify opportunities to streamline plan termination procedures and enhance client experience.
• Lead communication with plan sponsors, recordkeepers, and financial advisors throughout the plan termination process.
• Collaborate with Compliance, Relationship Managers, Finance and Plan Document teams throughout the process.
• Perform required annual non-discrimination testing and prepare contribution calculations on active plans as assigned from Director of Compliance.
Requirements
Required Skills/Abilities/Certifications:
• Strong knowledge of IRS, DOL, and ERISA regulations related to retirement plans.
• Excellent organizational and project management skills.
• Outstanding written and verbal communication abilities.
• Ability to work independently and collaboratively within a team environment.
• Detail-oriented with a commitment to accuracy and compliance.
Education and Experience:
• Preferred Bachelor's Degree in accounting, finance, communications, or related field (or equivalent experience).
• Minimum 3 or more years of experience in A-Z retirement plan administration, with specific expertise in 401(k) plan terminations preferred.
• Experience using FTW and PensionPro preferred.
• Proficient with Microsoft Office Suite applications, especially Outlook and Excel.
• Professional certifications such as QKA, or APA, and ASPPA/NIPA membership are a plus.
Salary Description
DOE $65,000 - $80,000/year plus annual bonus
Apply tot his job
Apply To this Job