Defined Benefit Specialist – Plan Administrator
Networks Connect is conducting a search for a Defined Benefits Specialist (Remote). In this position you will perform technical DB and DC administration at a high level and work directly with actuaries. Provide exceptional customer service to our broad client base of Plan Sponsors/Employers, Financial Advisors, CPA’s, Recordkeeper Contacts, and other partnerships. Share DB/DC expertise and confidence while working alongside peers to achieve company goals.
Responsibilities and Duties:
- Provide clear communication that conveys the right information to our client base, while performing routine compliance administration.
- Ability to communicate Defined Benefit and Combo Plan testing and specific information to clients.
- Communicate directly with actuaries.
- Understanding of Defined Benefit Calculations & Limits.
- Utilize current, standardized administration and tools (excel templates etc.) to perform all administrative reports.
- Must be detailed oriented in all aspects of administration, including detailed notes, cell links and documentation.
- Sort through obtained data to meet timely testing deadlines that meet client expectations for such deliveries.
- Able to understand DB and DC Plan Documents and how they relate to ongoing administration.
- Work with Recordkeeper data that is most likely received in varied formats and systems to reconcile Plan Assets.
- Work on Pooled Brokerage Account reconciliation.
- Understand the intricacy of plan asset reconciliations, document distributions, including Required Minimum Distribution calculations, contributions, earnings, transfers, adjustments etc. that may have transpired throughout the Plan year, including recordkeeping conversions.
- Provide timely contribution calculations and monitor IRS maximums and limits.
- Accurate and timely completion of IRS Forms (5500 series, 5330, 1099R’s and others)
- Accurate and timely completion of PBGC Forms
- Assist colleagues with their questions by providing insight and options.
- Ability to provide to our clients, necessary direction and resources that assist Plan needs (payroll questions, corrections or adjustments, Plan design questions and any other plan related items).
- Continue to seek ways to improve our processes and services. Maintain client and plan data according to set administrative electronic path (Box…).
- Perform work according to company policy and procedures.
- Perform other job-related duties as assigned.
- Minimum 3 years of TPA compliance and administration
- Minimum 3 years of experience related to defined benefit actuarial/administrative services.
- Experience with PBGC related forms and processes
- Bachelor’s degree in accounting, Business Administration, or equivalent work experience
- Excellent presentation skills, telephone/video call etiquette and professionalism, client service skills and time management proficiency
- Proficiency with Excel and database applications including formatting and formulas.
- Preference for ASC & PensionPro experience (preferred not required)
- Thorough knowledge base of ERISA, PBGC, DOL and IRS regulations, and plan documents
- Excellent written and oral communication skills. The ability to communicate effectively (clear, concise, and professionally) with all levels within the organization, as well as with our client’s.
- Excellent analytical and problem resolution skills
- Must possess the drive to solve problems and improve inefficient processes; lead the team to think of creative/innovative solutions.
- Ability to work in a team environment to ensure common goal of providing exceptional customer service.
- Ability to react to change productively and manage other essential tasks as assigned.
- Ability to work well under pressure with multiple priorities and deadlines in a fast-paced environment.
- Ability to escalate issues to appropriate levels within an organization.
Location - Remote