Pension Administrator II

Western & Southern Financial Group•Cincinnati, OH

9d•Onsite

About The Position

Performs plan administrative services for assigned group of plans. Serves as main point of contact for plan sponsors and agents for qualified plan inquiries. Works with minimal supervision, and provides limited consultation to plan sponsor or agent only when approved by a Sr. Pension Administrator or Manager. Responsibilities What you will do: Maintains positive relationships with plan sponsors, agents and internal clients. Performs annual testing to ensure plans meet non-discrimination and coverage regulations provided by the IRS and DOL. Prepares required governmental filings for assigned qualified plans. Balances plans and prepares annual plan valuations based on information provided by plan sponsors on a balance forward basis. Notifies clients of any balancing issues, required contributions and maximum deductible contribution amounts. Prepares illustrations for employer contributions using all allocation methods including non-safe harbor methods. Instructs plan sponsors and agents on safe harbor correction methods for plan failures and calculates amounts for corrective distributions and/or required plan contributions. Reviews plans to ensure provisions of plan document are appropriately applied on both a plan and participant level. Explains provisions of plan document including any amendments to plan sponsors and agents. Provides information on how this affects the plan and its participants. With assistance from Sr. Pension Administrator or Manager, provides consultation regarding plan design and operations. Assists plan sponsors and agents with day-to-day administration of plan. Provides available distribution amounts, assistance with determining participant eligibility and provides other information required for daily plan operations. Requests information necessary to provide plan valuation and annual testing and prepares government forms prior to the end of the plan year. Applies required follow-up procedures to obtain necessary information and invoice payment. Contacts plan sponsors and agents on existing unresolved issues. Proactively notifies plan sponsors and agents of impending issues. Notifies plan sponsors of necessary Required Minimum Distributions and follows up to assist the appropriate handling of these transactions. Guides plan sponsors and agents through the proper process when terminating a qualified plan. Promotes the value of Lafayette Life products within qualified plans Performs other duties as assigned. Complies with all policies and standards.

Requirements

Bachelor's degree or equivalent work experience showing increasing levels of responsibility. - Required
Proven experience handling and effectively resolving customer problems. Must provide examples of strong customer service skills - Required
At least one year experience working in qualified plan industry - Required
Demonstrated excellent verbal and written communication skills with the ability to successfully interpret and communicate business needs to both internal and external client groups in a clear and concise manner. This includes demonstrated strong telephone and email communication skills and etiquette. - Required
Demonstrated strong attention to detail with excellent organizational skills. Must cite examples of organization and time management methods used to manage or prioritize workload demands. - Required
Proven strong analytical skills, including demonstrated experience identifying and quantifying problems and providing effective resolutions. - Required
Must be proficient with Windows-based operating systems and the Microsoft Office Suite of products. - Required
Successful completion of ASPPA RPF modules within 1 Year - Required

Nice To Haves

Demonstrated knowledge of pension industry. Ability to provide examples of understanding of retirement plan concepts, including product knowledge, procedures, systems and applications - Preferred
Knowledge of FT William Pension Administration System and/or Document System preferred. - Preferred
Knowledge of NOLAS mainframe system a plus - Preferred

Responsibilities

Maintains positive relationships with plan sponsors, agents and internal clients.
Performs annual testing to ensure plans meet non-discrimination and coverage regulations provided by the IRS and DOL.
Prepares required governmental filings for assigned qualified plans.
Balances plans and prepares annual plan valuations based on information provided by plan sponsors on a balance forward basis.
Notifies clients of any balancing issues, required contributions and maximum deductible contribution amounts.
Prepares illustrations for employer contributions using all allocation methods including non-safe harbor methods.
Instructs plan sponsors and agents on safe harbor correction methods for plan failures and calculates amounts for corrective distributions and/or required plan contributions.
Reviews plans to ensure provisions of plan document are appropriately applied on both a plan and participant level.
Explains provisions of plan document including any amendments to plan sponsors and agents.
Provides information on how this affects the plan and its participants.
With assistance from Sr. Pension Administrator or Manager, provides consultation regarding plan design and operations.
Assists plan sponsors and agents with day-to-day administration of plan.
Provides available distribution amounts, assistance with determining participant eligibility and provides other information required for daily plan operations.
Requests information necessary to provide plan valuation and annual testing and prepares government forms prior to the end of the plan year.
Applies required follow-up procedures to obtain necessary information and invoice payment.
Contacts plan sponsors and agents on existing unresolved issues.
Proactively notifies plan sponsors and agents of impending issues.
Notifies plan sponsors of necessary Required Minimum Distributions and follows up to assist the appropriate handling of these transactions.
Guides plan sponsors and agents through the proper process when terminating a qualified plan.
Promotes the value of Lafayette Life products within qualified plans
Performs other duties as assigned.
Complies with all policies and standards.