Account Manager (Retirement Plan)

McGregor and Associates • Lexington, KY

3d • Hybrid

About The Position

With direction from the Retirement Department Manager, this position serves as a resource to retirement plan sponsors (employers) and financial advisors for compliance, nondiscrimination testing, plan design, and governmental reporting. This person is primarily responsible for the day-to-day administration of designated retirement plans and will utilize a high degree of attention to detail, technical proficiency, and customer service to ensure compliance with Retirement plan laws, regulations, and deadlines. This position may also work closely with Compliance Manager, Plan Administration Associate, Plan Administration 3(16) Specialists, and Plan Data Coordinators to solve employer challenges through trusted relationships, employee benefits expertise, and quality personalized service.

Requirements

• Bachelors Degree or equivalent experience preferred
• 3+ years ERISA experience in the retirement industry is preferred
• Strong Word, Excel, and Outlook skills
• Strong mathematical aptitude
• Attention to detail
• Strong time management skills
• Ability to multi-task
• Excellent problem solving and analytical skills
• Relationship builder
• Effective communication skills
• Have or willing to obtain in 18 months relevant industry credentials such as QKA, QPA, APA, ERPA, or CEBS

Responsibilities

• Provide timely, exceptional customer service, including problem solving and issue resolution
• Provide effective verbal and written communications in a clear, concise and informative manner
• Complete / review data entry of census information to ensure accuracy
• Verifying deferral/match deposits against client provided census information
• Complete trust accounting on the applicable quarterly, semi-annual, annual basis
• Calculate / allocate employer contributions when applicable (i.e. profit sharing and / or match)
• Checking data entry of contribution splits to ensure accuracy
• Allocate expenses / earnings / losses on pooled and segregated accounts
• Importing downloads from investment providers as needed on daily valuation clients
• Completing annual compliance and nondiscrimination testing including communication of results to the plan sponsor and facilitating applicable corrections by the appropriate IRS deadlines
• Prepare account allocation / valuation report
• Ensuring participant vesting information is updated accurately each plan year
• Prepare, Deliver, and File applicable annual government filings such as Form 5500, 8955-SSA, and 5330
• Prepare Summary Annual Report (SAR)
• Coordination of information with plan auditor (if applicable)
• Review and verify accuracy of distribution forms prepared by Plan Administration Associate
• Coordinate and review 3(16) co-fiduciary services provided by Plan Administration 3(16) Specialist
• Ensure participant notices are accurately produced and delivered as designated in service agreements
• Routine annual plan design consulting with client
• Facilitate plan design changes requiring amendments to plan document with Compliance Manager
• Any other assigned tasks given by a Supervisor
• Ensure the timeliness of meeting all deadlines required by the IRS, DOL, legislation and regulations
• Ensure the timeliness of client communication and deliverables as specified in the handbook or as directed by supervisor

Benefits

• Employer funded health insurance benefits
• Group sponsored dental insurance
• Employer paid vision insurance for employee, spouse & dependents
• Employer paid life, short-term disability and long term disability insurance
• Employer funded Health Savings Account (HSA)
• Employer funded Health Reimbursement Arrangement (HRA)
• Flexible spending account benefits
• Up to 5 weeks vacation leave
• Paid sick leave
• Holiday pay
• 401(k) retirement plan benefits including matching employer contributions
• Performance bonuses
• Flex schedules

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree