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Benefit Consultant

Unified Trust Company, N.A.

in Lexington, KY / Telecommute

GENERAL FUNCTION:

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.
  • Review plan 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.
  • Maintain 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 responsibilities.
  • 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 the year
  • 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 clients.
  • 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.
  • Facilitate fund 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 distribution.
  • 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

REQUIREMENTS:

  • Bachelor’s degree in related area or work equivalent
  • 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 investments
  • Proficiency with Microsoft Excel, Word, and Outlook
  • Understanding of the pension industry and Relius software preferred
  • Willingness to pursue industry designation/certification

How to Apply

Please forward resumes to angela.brown@unifiedtrust.com

Unified Trust Company, N.A. in an Equal Opportunity Employer.

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