Plan Compliance Specialist

Mid Atlantic Capital Group

8d•Hybrid

About The Position

This position is responsible for performing compliance nondiscrimination testing and Form 5500 reporting for our clients’ defined contribution plans. This is required to assure that retirement plans remain qualified, and that contributions and benefits are tested and allocated properly, within regulatory deadlines. The position will ideally be in the Lexington, KY, or Memphis, TN location. Remote candidates may also be considered.

Requirements

Performing compliance nondiscrimination testing
Form 5500 reporting for defined contribution plans
Assuring retirement plans remain qualified
Testing and allocating contributions and benefits properly
Meeting regulatory deadlines
Analyzing annual or mid-year census information
Determining if eligibility provisions have been calculated correctly
Calculating and preparing proposals for year-end or true-up employer allocations
Performing required testing such as “average deferral percentage/average contribution percentage,” Top Heavy, Coverage, Compensation Nondiscrimination, General Nondiscrimination, and Control Group Determinations
Ensuring that neither participants nor client plans exceed IRS and plan limits
Learning and performing advanced annual nondiscrimination testing, to include but not be limited to new comparability allocations, integrated allocations, and average benefit testing
Calculating employer allocation projections for existing clients
Preparing Form 5500 and other reporting
Reconciling plan financial statements
Preparing annual audit packages for applicable plans
Providing audit support to auditors and clients
Preparing other government filings as required such as Form 8955SSA, Form 5558, and Form 5330
Providing support to internal and external partners for compliance testing and reporting
Identifying and recognizing any compliance issues that arise from a plan’s testing and reporting process
Analyzing and recommending corrective action related to such issues
Logging workload information into database for tracking purposes
Possessing a strong understanding of department processes, procedures and standards

Responsibilities

Analyzing annual or mid-year census information from clients and completing annual nondiscrimination testing requirements, which may include but are not limited to determining if eligibility provisions have been calculated correctly and calculating and preparing proposals for year-end or true-up employer allocations.
Performing required testing such as “average deferral percentage/average contribution percentage,” Top Heavy, Coverage, Compensation Nondiscrimination, General Nondiscrimination, and Control Group Determinations.
Ensuring that neither participants nor client plans exceed IRS and plan limits.
Having the ability to learn and perform advanced annual nondiscrimination testing, to include but not be limited to new comparability allocations, integrated allocations, and average benefit testing.
Calculating employer allocation projections for existing clients.
Preparing Form 5500 and other reporting, which may include (among other things) reconciling plan financial statements, preparing annual audit packages for applicable plans and providing audit support to auditors and clients.
Preparing other government filings as required such as Form 8955SSA, Form 5558, and Form 5330.
Providing support to internal and external partners for compliance testing and reporting.
Identifying and recognizing any compliance issues that arise from a plan’s testing and reporting process and analyzing and recommending corrective action related to such issues.
Logging workload information into database for tracking purposes.
Possess a strong understanding of department processes, procedures and standards