3.16 Operations Specialist

Ascensus•Greensboro, NC

25d

About The Position

FuturePlan is the nation’s largest third-party administrator (TPA) of retirement plans, partnering with advisors in all 50 states. FuturePlan delivers the best of both worlds: high-touch personalized service from local TPAs backed by the strength and security of a large national firm, Ascensus. Our roots go back decades, with nearly 30 outstanding legacy firms now joined together to deliver unmatched levels of service, innovation and expertise to a fast-growing client base from coast to coast. The FuturePlan team includes more than 500 credentialed plan professionals, 60 actuaries, and one of the industry’s largest in-house ERISA teams. Learn more at FuturePlan.com. POSITION SUMMARY The 3.16 Operation Specialist plays a key role in supporting the 3.16 Center of Excellence (COE) by overseeing and assisting with administrative responsibilities typically managed by the plan sponsor. In partnership with the Fiduciary Consultant, this position provides operational support throughout the retirement plan lifecycle, ensuring accurate and timely execution of day-to-day tasks. The role involves interaction with recordkeepers and at times, clients, as well as mentoring team members in alignment with the 3.16 COE service models. The 3.16 Operations Specialist is expected to meet defined service and processing goals, demonstrate strong communication and problem-solving skills, and contribute as a Subject Matter Expert (SME) or Project Lead when needed.

Requirements

Bachelor’s degree (B.A., B.S.) in business, accounting, human resources, or equivalent business experience
Highly organized with an attention to detail
Ability to work in fast paced, ever-changing environment
Ability to manage multiple tasks simultaneously
Creative problem solving and critical thinking skills
Intermediate knowledge of MS Office Suite
Self-motivated, responsive, and efficient
Able to lead projects as requested
Able to work independently with minimal supervision
Ability to effectively assess risk
Team player, willing to help where needed
Self-motivated, eager to learn and grow
Pro-active, innovated thinker
Effective communication skills
Exceptional customer service skills

Nice To Haves

Retirement administration and plan design experience in a professional environment
Experience with databases and data management

Responsibilities

Determine participant eligibility throughout the plan year.
Review and distribute enrollment materials in accordance with plan provisions.
Approve distributions and loans on behalf of the plan sponsor.
Review vesting and distribution campaigns annually.
Ensure plan operations comply with the governing plan document and applicable regulations.
Review, sign, and file Form 5500s; complete Form 5500 late deposit
Prepare and send out Summary Annual Reports (SARs), Annual Notices, and other year-end reporting notices.
Complete data integrity reviews, force-out distributions, and plan enrollment reviews.
Act as a primary point of contact for consultants, installation coordinators, payroll team, and FuturePlan associates regarding 3(16)-related inquiries.
Archive all relevant communications for 3(16) access and signing authority records.
Communicate significant issues or concerns to appropriate leadership in a timely and clear manner.
Manage and optimize existing 3(16) processes; develop new procedures as needed.
Lead and/or support the delivery of required annual notices and pre-filled census reporting.
Oversee the proper completion of Required Minimum Distributions (RMDs), ERISA and Fidelity bond reviews, and maintenance of the fiduciary log.
Ensure proper handling of Personally Identifiable Information (PII).
Develop technical skills to serve as a Subject Matter Expert (SME) for designated processes.
Provide direction and guidance to the team; mentor other team members as needed.
Serve as Project Lead for high-priority projects and initiatives.
Create and assist with project schedules, including defined scopes, objectives, and timelines.
Contribute to decision-making and process improvement efforts across the 3(16) Operations Team.
Support and maintain responsibilities associated with the 3(16) Plan Admin mailbox.
Responsible for protecting, securing, and proper handling of all confidential data held by Ascensus to ensure against unauthorized access, improper transmission, and/or unapproved disclosure of information that could result in harm to Ascensus or our clients.
Assist with other tasks and projects as assigned