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3(16) Services Team Leader
Compass 360, LLC
in Stratham NH
Compass Retirement Consulting Group and Compass 360 are third-party administration firms that provide employers with retirement plan design, administration, actuarial services, and ongoing plan consulting. Compass
360 is the Fiduciary arm of the group. We create and nurture a partnership with our clients to understand their needs and create retirement programs that integrate with the financial and human resources goals.
Reporting directly to the Vice President of Compass 360 Operations, we're looking for an experienced Retirement Plan Administrator who can lead a team of five to eight remote and office customer service/payroll
assistants to ensure weekly, monthly and quarterly deadlines and objectives are met with a high level of accuracy while performing annual testing and administration for a small book of business Assist management to organize and create
formal procedures and guidelines for completing daily workflow and create a formal training program for new employees.
Essential Team Leader Duties (60%):
- Ensure payroll contributions for all Compass 360 clients are
processed and uploaded on a timely and accurate basis weekly.
- Ensure participant communications (annual notices, enrollment materials, blackout notices, fee disclosures, QDIA Notices, Safe Harbor Notices, and other custom communications),
census data requests, and other projects are assigned and completed on a timely and accurate basis.
- Create formal guidelines and procedures for the processing of distributions (70.5, force-out, etc.), loans, and QDRO according to best
practices and DOL regulations.
- Determine ways to better understand the demands, positives and pain points of the 3(16) Liaison position and determine ways it can be more effective.
- Research and recommend new methods
to use technology to integrate Verify with record keepers and payroll vendors more effectively.
- Create a formal training program and timetable for new employees.
- Ensure participant calls and emails regarding enrollment,
distributions, loans, and other info are responded to in a satisfactory manner.
- Participate in annual performance evaluation process for team of 5-7 Liaisons.
- Communicate expectations, assignments and responsibilities clearly
- Plan workflow and coverage to ensure vacations and other time-off can be taken.
Essential Administrator Duties (40%):
- Review plan documents and service agreements for new
clients and upload required information into Datair software.
- Communicate directly with clients to ensure annual census and other required plan information is received.
- Perform annual testing (ADP/ACP, 402(g), Top Heavy
determination, 410(b), etc.) accurately and timely.
- Prepare and complete annual valuations.
- Correct plan errors and late deferrals as needed.
- Communicate failed test results to client in a clear and concise manner to
ensure client understands results. Complete excess forms for client and follow-up with client and vendors as necessary to ensure the corrections were made.
- Calculate employer contributions and true-up contributions accurately and
- Perform other required projections, tests, and calculations as needed.
- Complete and file required government forms (Form 5500, 5330, 5558, etc.) as needed accurately and timely as required.
vesting information to vendor websites and ensure data is accurate.
- Create plan termination package and follow-up through required steps including testing, distributions, and filing find Form 5500 as required.
- Identify 70.5 and
force out distributions for balances under $5,000.
- Prepare proposals for existing clients as requested by the Vice President of 360 Operations.
- Work directly with large plan auditors and/or DOL/IRS auditors as
- Other tasks as requested.
- Bachelor Degree in business, communications, or related field with 3-5 years of related experience in customer service, financial services, payroll
and/or retirement plan management
- Proven customer service, supervision, and relationship management skills to build relationships with assigned clients and employees for the long-term.
- Strong verbal and written communications skills
using clear and grammatically correct language
- The ability to problem-solve, be pro-active, and demonstrate initiative
- Robust time management and organizational skills with the ability to multi-task
- Comprehensive knowledge and understanding of retirement plans and payroll processing platforms
- Ability to work both independently and in a collaborative team environment
- Superb attention to detail
How to Apply
Compass offers a competitive benefits package including medical, dental, vision, PTO, and a 401k plan with employer contribution. Interested candidates are encouraged to email a resume and cover letter to email@example.com.
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