Sr Plan Document Consultant

Voya Financial • Boston, MA

23h • $90,000 - $120,000

About The Position

Together we fight for everyone’s opportunity for a better financial future. We will do this together — with customers, partners and colleagues. We will fight for others, not against: We will stand up for and champion everyone’s access to opportunities. The status quo is not good enough … we believe every individual and every community deserves access to financial opportunities. We are determined to support both individuals and communities in reaching a better financial future. We know that reaching this future depends on our actions today. Like our Purpose Statement, Voya believes in being bold and committed to action. We are committed to a work environment where the differences that we are born with — and those we acquire throughout our lives — are understood, valued and intentionally pursued. We believe that our employees own our culture and have a responsibility to foster an environment where we all feel comfortable bringing our whole selves to work. Purposefully bringing our differences together to positively influence our culture, serve our clients and enrich our communities is essential to our vision. Are you ready to join a company with a strong purpose and a winning culture? Start your Voyage – Profile Summary: The Sr Plan Document Consultant is responsible for the installation and ongoing plan document support of sponsors that meet the criteria for Voya’s plan document services. The Sr Plan Design Consultant plays a pivotal role in supporting our Sales and Client Transition Management teams. Responsibilities include plan design consultations, plan design reviews, drafting plan documents aligned with OMNI platform capabilities, and ensuring a seamless transition from Plan Design to Implementation for onboarding clients. Profile Description: Have a detailed understanding and ability to interpret sophisticated plan documents and code provisions, including a familiarity with Pre-Approved, Custom and Volume Submitter documents for tax- exempt (401(a) 403(b) and 457(b) Plans) and corporate sponsors (401(k) Plans Prepare and maintain all Plan Documents for startup, spinoff, and conversion retirement Plans, including Plan Amendments, Restatements, Summary Plan Descriptions, and all supporting documents. Successfully manage the plan document restatements from start to finish. Collaborate with Plan Sponsors and Advisors to create optimal defined contribution plan designs, addressing queries, and ensuring a clear understanding of chosen plan specifications. Offer comprehensive plan design consultations with plan sponsors during the onboarding process. Assist in the development workflows, tools, and procedures to enhance the client experience around Voya’s plan document services. Perform merger comparisons and protected benefits analysis of both pre-approved and individually designed plan documents. Aid in pre-sales reviews of plan documentation to assist the sales and client services departments to evaluate potential business. Conduct legal research related to guidance provided by the DOL and IRS, ERISA regulations, applicable legislative and judicial updates as well as state and federal regulations. Provide consultative support to internal partners, reviewed complex and unique requests with subject matter experts from legal, product, and operational support teams to confirm internal operating procedures and leverage findings to draft plan documents and amendments that align with record keeping capabilities. Identify plan provisions that may not be supported by the Voya pre-approved plan document or product offer and consult with clients and related parties to identify alternative plan design solutions. Collaborate with the Legal Team to answer and research complex plan operational questions. Assist with the training and peer review of Plan Document Consultants.

Requirements

• B.S or B.A. Degree preferred.
• Proficient knowledge of ERISA and IRS regulations relating to retirement plans.
• Considerable background 10+ years in defined contribution/qualified plan experience including sales support, design consultation, document drafting, and non-discrimination testing.
• Ability to operate and prioritize deliverables in a multi-tasking environment.
• Knowledge of Microsoft applications including Excel, Word Teams, and PowerPoint
• Experience with FIS ASP, Exchange, and DMS tools is essential.
• Salesforce experience.
• Positive, collaborative, and proactive attitude.

Nice To Haves

• OKA Designation or equivalent preferred.

Responsibilities

• Prepare and maintain all Plan Documents for startup, spinoff, and conversion retirement Plans, including Plan Amendments, Restatements, Summary Plan Descriptions, and all supporting documents.
• Successfully manage the plan document restatements from start to finish.
• Collaborate with Plan Sponsors and Advisors to create optimal defined contribution plan designs, addressing queries, and ensuring a clear understanding of chosen plan specifications.
• Offer comprehensive plan design consultations with plan sponsors during the onboarding process.
• Assist in the development workflows, tools, and procedures to enhance the client experience around Voya’s plan document services.
• Perform merger comparisons and protected benefits analysis of both pre-approved and individually designed plan documents.
• Aid in pre-sales reviews of plan documentation to assist the sales and client services departments to evaluate potential business.
• Conduct legal research related to guidance provided by the DOL and IRS, ERISA regulations, applicable legislative and judicial updates as well as state and federal regulations.
• Provide consultative support to internal partners, reviewed complex and unique requests with subject matter experts from legal, product, and operational support teams to confirm internal operating procedures and leverage findings to draft plan documents and amendments that align with record keeping capabilities.
• Identify plan provisions that may not be supported by the Voya pre-approved plan document or product offer and consult with clients and related parties to identify alternative plan design solutions.
• Collaborate with the Legal Team to answer and research complex plan operational questions.
• Assist with the training and peer review of Plan Document Consultants.

Benefits

• Health, dental, vision and life insurance plans
• 401(k) Savings plan – with generous company matching contributions (up to 6%)
• Voya Retirement Plan – employer paid cash balance retirement plan (4%)
• Tuition reimbursement up to $5,250/year
• Paid time off – including 20 days paid time off, nine paid company holidays and a flexible Diversity Celebration Day.
• Paid volunteer time — 40 hours per calendar year

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level