Retirement Compliance Consultant

NRECA•Arlington, VA

3d•$98,000 - $122,000•Onsite

About The Position

Provides guidance and advice directly to member cooperatives and internal staff regarding the NRECA retirement plans and associated compliance requirements. Navigates complex regulatory and operational issues to advise member cooperatives on how to maximize benefit value while minimizing compliance risk. Conducts complex nondiscrimination tests for member cooperatives participating in the 401(k) Pension Plan and Retirement Security Plan, requiring technical knowledge and understanding of qualified multiple employer plans and understanding of more than 2,200 customized adoption agreements. Uses independent judgement in advising and counseling member cooperatives with respect to pension plans and compliance issues.

Requirements

Bachelor’s degree in business or related area of study
5 or more years of related compliance experience with defined contribution and defined benefit plans
Attainment of professional certifications (QKA, QPA, CEBS or equivalent)
In depth knowledge of Department of Labor, Internal Revenue Service and ERISA requirements and their appropriate application to pension plans.
Advanced understanding of both defined benefit and defined contribution plan designs
Demonstrates basic research and analytical skills.
Proficient in ADP/ACP testing, as well as 401(a)(4), 401(a)(17),402(g), 410(b), 414, 415, and 416 tests.
Exceptional attention to detail.
Excellent client service skills.
Manages workload including incoming phone calls and emails in balance with the timely completion of long-term and short-term projects.
Ability to communicate, both verbally and in writing, with a diverse membership, employees and/or vendors in a clear and precise manner.
Ability to use Microsoft Office tools (Excel, Word, Outlook, Power Point) and to operate various office equipment such as personal computer, copier, printer, fax machine or other job-related equipment.
Ability to provide service excellence by building relationships, being resourceful, responsive and respectful.
Ability to report to the office when required.

Responsibilities

Under limited supervision, responsible for the technical review and validation of defined contribution and defined benefit plan compliance testing performed by an external vendor, including analysis of results and comparison of multiple tests.
Independently performs complex tests not supported through the co-sourcing arrangement.
Summarizes test findings for cooperatives, identifies compliance risks, and recommends corrective actions for adverse results.
Consults on historical testing results, advises on plan design strategies, articulates risk considerations, and ensures resolution of identified issues.
Reviews plan design changes, past service liabilities, special early retirement programs, and proposals, with accountability for project timelines, to ensure documentation clearly effectuates legal changes to plan provisions and complies with Internal Revenue Code (IRC) nondiscrimination requirements.
Handles all monitoring of delinquent contributions to the 401(k) Plan, including quarterly monitoring of contributions, reconciliation and resolution of data inconsistencies, calculation and allocation of lost earnings and interest among participants, and preparation of IRS Form 5330 and supporting documentation.
Supports the safe harbor notice project, including providing input on project plans, reviewing communication materials, assisting with follow-up on notices, generating manual notices and preparing plan design change documents for safe harbor plans.
Reviews domestic relations orders (DROs), including providing requested documentation, communicating by phone and email with involved parties, reviewing and advising on draft orders, determining whether orders comply with the IRC and can be administered by the plans, and exercising discretion in determining qualification of the DRO.
Mentors junior team members and trains colleagues within designated areas of responsibility.
Within area of expertise, improves the efficiency of the department by developing systems and programs to streamline processes and procedures.
Collaborates with internal staff to develop communications and training materials that reflect technically and operationally accurate information.
Serves as a technical resource to cooperatives, internal staff, and other compliance personnel regarding pension plan provisions, proposed or adopted regulatory requirements, and compliance requirements.
Accepts and supports additional retirement compliance project work as assigned.
Responsible for the proper security and disposal of any confidential information that he or she may possess in the course of performing this position’s job duties, in accordance with NRECA’s Personnel & Administrative Policy and HIPPA Privacy and Security Policies & Procedures Manuals.