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Retirement Compliance Analyst


in Arlington VA

Conduct basic nondiscrimination tests for member cooperatives participating in the NRECA-sponsored 401(k) Pension Plan and Retirement Security Plan, which requires technical knowledge and understanding of qualified multiple employer plans rules and over 2,200 customized plan designs.  Supports plan operations in navigating complex regulatory issues to help cooperatives maximize benefit value while minimizing plan compliance risk.

Essential Duties and Responsibilities:

  • Conducts nondiscrimination testing as assigned by the Retirement Compliance Consultant.Responsible for the accurate and timely calculation of non-discrimination test results and communicating the results to all participating member cooperatives. Specifically, this includes the following tests:
    • ADP / ACP test on employee and employer contributions to the 401(k) Pension Plan to determine whether plan year contributions were discriminatory and calculate any necessary refunds.
    • Elective Deferral Limits test to ensure participants’ elective contributions did not exceed Internal Revenue Code Section 402(g) limits.
    • Annual Additions Limits test to ensure total plan contributions were limited by Internal Revenue Code Section 415(c) limits.
    • Annual Compensation Limits test to ensure considered compensation on employer contributions did not exceed Internal Revenue Code Section 401(a) (17) limits.
    • 401(a) (26) test to ensure Retirement Security Plan provides meaningful benefits to satisfy the minimum participation requirements.
    • 410(b) Minimum Coverage test applies for both 401(k) Pension Plan and Retirement Security Plan that limits the number of employees who can be excluded from benefiting under the plan annually.
    • 414(s) test to ensure each system’s definition of plan compensation is non-discriminatory.
    • 401(a) (4) General test is used to prove non-discrimination with respect to contributions and/or benefits.
    • Top Heavy test to ensure the Plans do not disproportionately favor certain owners and officers.
  • Under supervision, completes in a timely manner assigned compliance projects, such as:
    • Handles all monitoring of delinquent contributions to the 401(k) Plan, including monitoring contributions on a quarterly basis, reconciling and resolving data inconsistencies, calculating lost earnings, allocating lost earnings and interest among participants, and preparation of Form 5330 and supporting documentation.
    • Reviews documentation for plan changes, including 204(h) notices, board resolutions and adoption agreements.
    • Reviews Special Early Retirement Program (SERP) and Past Service Liability (PSL) to ensure compliance with nondiscrimination requirements of the Internal Revenue Code.
    • Conducts testing when needed for technology enhancements and upgrades.
  • Responds to emails and answers telephone calls from cooperatives and internal clients regarding straightforward compliance questions in accordance with service excellence guidelines.

Direct Reports to this Position:  N/A

Formal Education Required:

  • Bachelor’s degree in business, mathematics or related field. Attainment of pension certifications (e.g. American Society of Pension Professionals and Actuaries (ASPPA) RPF 1 & 2) within 18 months of accepting the position.

Experience Required:

  • 2-4 years employee benefits experience in completing ADP/ACP testing, as well as 401(a)(4), 402(g), 415, 401(a)(17), 414, 416, 401(a)(26) and 410(b) tests.

Knowledge, Skills and Abilities Required:

  • Knowledge of IRC, ERISA and regulations and their appropriate application to pension plans.
  • Ability to manage competing deadlines and multiple projects at various stages of development using effective organization skills and attention to detail as demonstrated by prior work experience.
  • Ability to work with a wide variety of people to foster cooperation in sharing information and materials as demonstrated by prior work experience.
  • Ability to listen and interprete the customer’s needs, de-escalate difficult customer calls, while at the same time researching the issue and applying broad business and technical knowledge to meet the customer’s satisfaction as demonstrated by prior work experience.
  • Ability to communicate, both verbally and in writing, with a diverse membership, employees and/or vendors in a clear and precise manner as demonstrated by prior work experience.
  • Ability to operate various office equipment such as personal computer, copier, printer, fax machine or other job related equipment as demonstrated by prior work experience.

How to Apply

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This ad has been viewed 504 times. It expires on 11/25/2018.

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