The Benefit Consultant’s primary function is to oversee the daily administration of their assigned Defined Contribution retirement plan clients and be responsive to their inquiries with a commitment to
excellence. Consultant must have knowledge of retirement plan regulations and conduct independent research for career growth.
RESPONSIBILITIES AND DUTIES:
Foster client relationships by providing value added customer
service, in addition to working with CPAs, auditors, investment advisors, and internal employees to service the client.
Maintain accurate records in Relius recordkeeping software for accuracy in administrative functions.
specifications for new plans in conversion to ensure proper set-up.
Update plan specifications when plan document is amended and notify affected departments.
Alert EBS Contact Management group when plan contacts change.
coding of VRU/Web specifications for client needs
Update management logs to properly track plan specifications and services needed.
Educate clients on Plan Sponsor website and tools located on the web to assist them with their
Facilitate the quarterly report process for daily valuation plans and review participant statements for accuracy.
Analyze census data for accuracy and compliance with plan document provisions, determine eligibility, and
identify Key and Highly Compensated Employees with family attribution rules.
Calculate employer contributions annually or as requested by the client:
Required safe harbor and top heavy minimum contributions
Optimum profit sharing
contributions in accordance with the plan’s allocation method (pro rata, integrated, age-weighted, new comparability) and verify accuracy of Relius allocations
Corrections, including earnings, for contributions reported incorrectly during
Process forfeiture allocations in compliance with plan document provisions.
Accurately prepare annual compliance testing, including ADP/ACP Test, 415 Limitations, Top Heavy, 410(b) coverage, 401(a) Nondiscrimination, and 414(s)
Compensation Ratio test.
Complete annual reconciliation of financials, including prior custodian activity during takeover years.
Accurately prepare Form 5500 and required schedules. Publish to Web Client utility for E-File by
Prepare Form 5330 to record client excise tax owed and maintain PTIN to sign as a preparer.
Monitor caseload to effectively prioritize tasks, meet deadlines and document in internal tracking tools.
additions and replacements for assigned plans.
Apply SEC Mutual Fund Settlement checks according to Policy and Procedures.
Calculate Military Leave “make-up” contributions and educate client on their responsibilities.
Assist in the monitoring, review and distribution of required annual notices.
Consult with Plan Sponsor on technical pension subjects (e.g. mergers/acquisitions, controlled groups).
Identify Plan Document, Operational, and
Qualification failures, draft correction memo for client to outline resolution and applicable fees.
Assist with LOD and VCP IRS filings.
Review plans for design improvement and prepare analysis for client.
Request and review
amendments/restatements for accuracy.
Facilitate the completion of plan terminations and transfers, keeping all areas informed in the process.
Calculate QDRO Alternate Payee amount, process the segregation of accounts, and facilitate the
Provide feedback on the upkeep of procedures and process improvements.
Accurately record client information for proper identification in DocRecord (document management system).
Provide backup for other Benefit
Consultants in their absence
Assist Associate BCs with:
Generating plan sponsor quarterly reports and Newkirk participant statement extract
Required Minimum Distributions
Plan distributions including death benefits,
loans and hardship withdrawals
Rehires and break-in-service rules
Any other duties as assigned by supervisor
Bachelor’s degree in related area or work
3-5 Years of administrative experience in similar industry
Highly ethical, customer focused professional with excellent interpersonal and communication skills
Quality driven with outstanding analytical and problem
solving abilities, attention to detail and accuracy
Ability to work independently and as a team player, take initiative, and react to change in a positive/productive manner
Strong math / accounting skills
General knowledge of
Proficiency with Microsoft Excel, Word, and Outlook
Understanding of the pension industry and Relius software preferred
Willingness to pursue industry designation/certification