Senior Retirement Plan Administrator

PRIME PENSIONS INC•Florham Park, NJ

17h•$65,000 - $85,000•Hybrid

About The Position

The Senior Retirement Plan Administrator is responsible for the ongoing administration, compliance, and client service of qualified retirement plans, including 401(k), Profit Sharing, and Cash Balance plans. This position independently manages assigned retirement plans, performs compliance testing and contribution calculations, maintains accurate plan records, and ensures adherence to applicable regulatory requirements. The ideal candidate has at least three (3) years of retirement plan administration experience, strong technical and analytical skills, and the ability to independently manage assigned plans while providing exceptional service to clients and financial professionals. This role requires strong organizational skills, attention to detail, and the ability to effectively manage multiple priorities in a deadline-driven environment.

Requirements

Minimum of three (3) years of experience in retirement plan administration, preferably within a third-party administration (TPA), retirement plan consulting, or related financial services environment.
Bachelor's degree in Business Administration, Finance, Accounting, Mathematics, or a related field preferred; equivalent relevant professional experience may be considered.
Demonstrated experience independently administering qualified retirement plans, particularly 401(k) and Profit Sharing plans.
Strong working knowledge of Defined Contribution retirement plans, including eligibility, vesting, contribution allocations, and compliance testing.
Familiarity with Cash Balance and Defined Benefit retirement plans preferred.
Experience performing annual compliance testing and contribution calculations.
Experience working directly with clients, financial advisors, or other financial professionals preferred.
Industry credentials such as QKA, QPA, or other ASPPA/NAPA certifications are a plus.
Strong working knowledge of qualified retirement plan administration and compliance.
Working knowledge of ERISA, the Internal Revenue Code, and applicable IRS and Department of Labor regulations.
Strong understanding of retirement plan eligibility, vesting, contribution limits, nondiscrimination testing, and annual reporting requirements.
Ability to interpret retirement plan documents, technical guidance, and regulatory information.
Strong mathematical, analytical, and problem-solving skills.
Strong attention to detail with the ability to maintain a high degree of accuracy.
Ability to independently manage assigned retirement plans while appropriately escalating complex or unusual matters.
Strong organizational and time-management skills with the ability to manage multiple priorities and deadlines.
Ability to research administrative and compliance questions and develop accurate, practical solutions.
Excellent written and verbal communication skills, including the ability to explain technical retirement plan information to clients and other stakeholders.
Strong interpersonal skills and a commitment to providing high-quality client service.
Ability to collaborate effectively with internal departments and external financial professionals.
Proficiency with Microsoft Office applications, particularly Excel and Word.
Experience with retirement plan administration and compliance software preferred.
Ability to work efficiently and accurately in a deadline-driven environment.
Ability to meet established productivity, quality, and turnaround expectations.
Sitting for prolonged periods while working at a computer.
Frequent use of a computer keyboard, mouse, telephone, and other standard office equipment.
Periodic standing, walking, reaching, bending, crouching, or kneeling.
Occasionally lifting, carrying, pushing, or pulling office materials weighing up to 30 pounds.
Visual, hearing, mobility, and manual dexterity sufficient to perform the essential functions of the position, with or without reasonable accommodation.

Nice To Haves

Familiarity with Cash Balance and Defined Benefit retirement plans
Experience working directly with clients, financial advisors, or other financial professionals
Industry credentials such as QKA, QPA, or other ASPPA/NAPA certifications

Responsibilities

Perform ongoing administration and annual compliance work for qualified retirement plans, including 401(k), Profit Sharing, and Cash Balance plans.
Independently manage assigned retirement plans, ensuring accurate and timely completion of administrative responsibilities.
Review and interpret plan documents to determine applicable administrative provisions and ensure plans are administered in accordance with plan terms.
Determine participant eligibility, compensation, service, and vesting in accordance with plan provisions.
Perform annual compliance testing, including ADP/ACP nondiscrimination testing, coverage testing, and Top-Heavy testing.
Determine Highly Compensated Employee (HCE) and Key Employee status.
Calculate annual employer contributions, including Profit Sharing, Safe Harbor, and other applicable contribution allocations.
Assist with Cash Balance plan administration and coordinate applicable actuarial calculations and funding requirements with the actuarial team.
Review participant data and plan records to identify discrepancies, missing information, or potential compliance issues.
Research administrative and compliance questions and recommend appropriate solutions.
Identify potential compliance failures and assist with determining and implementing appropriate correction methods.
Maintain accurate and complete plan records and supporting documentation.
Serve as a primary point of contact for assigned clients regarding retirement plan administration and compliance matters.
Develop and maintain positive working relationships with clients, financial advisors, accountants, and other financial professionals.
Respond to client inquiries and provide clear, accurate, and timely information regarding plan administration, contribution calculations, and compliance requirements.
Assist clients with understanding applicable plan provisions, administrative requirements, and regulatory deadlines.
Identify client needs and assist with retirement plan design recommendations and potential plan enhancements.
Support annual plan reviews by preparing relevant compliance information, contribution calculations, and administrative summaries.
Troubleshoot client issues and coordinate with internal departments to ensure timely and effective resolution.
Communicate complex retirement plan information in a clear and professional manner.
Escalate complex technical or compliance matters to the appropriate internal resources when necessary.
Prepare and review applicable annual retirement plan reporting information and supporting documentation.
Assist with the preparation and filing of Form 5500 and related schedules, as applicable.
Review plan financial information, participant census data, and contribution records for accuracy and completeness.
Monitor applicable regulatory deadlines and ensure assigned administrative work is completed within established timeframes.
Coordinate with internal trust accounting, actuarial, and compliance teams to obtain necessary information for annual reporting.
Stay informed of regulatory changes affecting qualified retirement plans and apply updated requirements to assigned administrative responsibilities.
Assist with plan amendments, restatements, and other administrative updates as required.
Manage assigned retirement plan administration workflow to ensure work is completed accurately and within established deadlines.
Maintain accurate and timely records of completed and outstanding work within Company workflow, time-tracking, and administration systems, including WIP, Time Tracker, and APC Gold.
Meet established internal turnaround times, productivity expectations, and quality standards.
Review work for accuracy and completeness prior to finalization or delivery.
Effectively prioritize multiple plans, client requests, and administrative deadlines, particularly during peak workload periods.
Utilize retirement plan administration software and Microsoft Office applications to complete assigned work efficiently.
Maintain reliable and satisfactory attendance.
Participate in individual and group discussions regarding departmental procedures, workflow, and process improvements.
Assist with technical research, special projects, and implementation of regulatory or procedural changes.
Collaborate with Consultants, Compliance Administrators, Trust Administrators, and Actuarial team members to support accurate and timely plan administration.
Assist with training and mentoring new or less-experienced employees as appropriate.
Share technical knowledge and best practices to support continued departmental development.
Perform other duties and responsibilities as assigned.