FuturePlan is the nation’s largest third-party administrator (TPA) of retirement plans, partnering with advisors in all 50 states. FuturePlan delivers the best of both worlds: high-touch personalized service from local TPAs backed by the strength and security of a large national firm, Ascensus. Our roots go back decades, with nearly 30 outstanding legacy firms now joined together to deliver unmatched levels of service, innovation and expertise to a fast-growing client base from coast to coast. The FuturePlan team includes more than 500 credentialed plan professionals, 60 actuaries, and one of the industry’s largest in-house ERISA teams. Learn more at FuturePlan.com.
Job Summary:
Serve as a resource to plan sponsors and financial advisors for matters related to defined benefit and defined contribution ERISA compliance, plan design and governmental reporting. This position serves as the retirement plan expert on DC and DB plans on testing, 5500, loans and distributions and comprehends plan design and can assist on plan operation and document updates. A Defined Benefit Pension Consultant is able to handle client meetings both in person and via phone.
Section 2: Job Functions, Essential Duties and Responsibilities
- Provide exceptional customer service, including problem solving with minimal inconvenience to clients
- Provide effective and timely verbal and written communications in a clear, concise and informative manner
- Assist the client with all initial and ongoing plan design and document support
- Assist the client in meeting all IRS and Department of Labor deadlines necessary for qualified retirement plans
- Maintain up-to-date knowledge of current legislation and proposed legislative changes with regard to ERISA law through self-study and company-sponsored training sessions
- Accountable for most aspects of actuarial valuation reports, participant statements, Annual Funding Notice, and AFTAP preparation
- Review or perform, as needed, the annual testing for plans, including ADP/ACP, Top Heavy, 410(b), 415, 401(a)(4), 401(a)(26), deductibility, and 402(g)
- Prepare benefit calculations and review distribution paperwork
- Review loan paperwork and coordinate processing of loans with asset holder
- Review or prepare Form 5500, draft Schedule SB for actuary, and coordinate with plan sponsor to help ensure timely filing
- Review or prepare annual PBGC premium filings
- Assist in preparation of PBGC termination filings
- Assist auditors if a plan is subject to an annual audit
- Under the direction of management, assist IRS, DOL, and PBGC auditors if the plan is subject to an IRS, DOL, or PBGC audit
- Coordinate with all applicable parties, both internal and external, to ensure accurate takeover process for new clients including set up to match prior valuation
- As applicable, work with Actuarial Analysts, Enrolled Actuaries, or solely to coordinate and oversee activities that will ensure timely and accurate completion of a large book of business
- Responsible for protecting, securing, and proper handling of all confidential data held by Ascensus to ensure against unauthorized access, improper transmission, and/or unapproved disclosure of information that could result in harm to Ascensus or our clients.
- Our I-Client service philosophy and our Core Values of People Matter, Quality First, and Integrity Always should be visible in your actions on a day-to-day basis showing your support of our organizational culture.
- Assist with other tasks and projects as assigned
Section 3: Experience, Skills, Knowledge Requirements
- Bachelor's degree required. Math-related degree preferred.
- Minimum 6 years of ERISA defined benefit and defined contribution experience in the retirement industry
- Experience in evaluation of financial data required
- Cash Balance Plan experience highly preferred.
- QPA, QKA, CPC, and/or actuarial exam progress preferred
- Experience in ASC software desirable, but not required
- Strong Word, Excel, and Outlook skills
- Strong written and oral communication skills
- Strong evaluation and problem-solving skills
- Strong attention to detail and the ability to prioritize, manage tasks and meet deadlines in conjunction with business operations, including related ERISA compliance matters
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