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Sobre este puesto de Retirement Plan Services Administrator II en First Bank & Trust

First Bank & Trust · Presencial · Sioux Falls, SD (Main)

Job Description:

The Retirement Plan Services Administrator II provides experienced administrative, technical, and client service support for routine to moderately complex employer-sponsored retirement plans, including 401(k), 457(b), pension, and profit-sharing plans. This person independently handles plan administration responsibilities, identifies and resolves recordkeeping discrepancies, communicates effectively with plan sponsors and participants, and supports annual administration, participant education, and plan conversion activities. This person also performs and analyzes all required testing and communicates results to client and internal parties.

Qualifications: This person should have a bachelor’s degree and six years of relevant experience, or the equivalent. Experience in retirement plan administration, trust operations, payroll, accounting, or banking is required. Strong analytical skills, accuracy, attention to detail, and excellent communication skills are required. This person must be able to independently manage multiple tasks, meet deadlines, and solve routine to moderately complex problems. Strong technical knowledge of retirement plan operations, including contribution processing, recordkeeping, reconciliation, compliance testing, and participant transaction support, is necessary. Ability to interpret plan documents and adoption agreements and apply that information to plan administration responsibilities is also necessary.

Principal Responsibilities:

  • Independently manage plan administration and recordkeeping responsibilities for assigned retirement plans.

  • Process payroll contribution files, participant deferrals, employer contributions, loan payments, and related plan transactions accurately and timely.

  • Reconcile contributions, distributions, forfeitures, earnings, and plan-level balances between trust accounting and recordkeeping systems; research and resolve discrepancies.

  • Serve as a point of contact for participant loans, distributions, hardships, rollovers, beneficiary updates, and related transaction processing.

  • Administer participant and plan data, including demographic information, enrollment records, investment elections, beneficiary information, and other plan-related records.

  • Communicate directly with plan sponsors regarding data submission, web tools, enrollment processes, census data, contribution files, testing results, reporting deadlines, and participant-level issues.

  • Perform and review compliance testing, including ADP/ACP, top-heavy, coverage, deferral limits, contribution limits, and other plan-level testing as applicable.

  • Identify testing failures, operational issues, contribution discrepancies, and data inconsistencies, and recommend corrective action.

  • Support compliance testing, Form 5500 preparation, and annual reporting processes by gathering, validating, and organizing required data.

  • Demonstrate working knowledge of ERISA, IRS, and DOL requirements related to qualified retirement plans.

  • Provide backup support and informal training to entry-level administrators or support staff.

  • Maintain working knowledge of retirement plan systems, operations, procedures, and applicable regulatory requirements.

  • Act in accordance with FBT policies and procedures as set forth in the employee handbook.

  • Adhere to compliance procedures and participate in required compliance and educational training. 

Compensation Grade

Salary Grade 5

First Bank & Trust is an Equal Opportunity, Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity or expression, national origin, disability, or status as a protected veteran. Read our complete Equal Employment Opportunity Policy Statement. Applicants who would like to request reasonable accommodation to the application or interview process should call Human Resources at 800.843.1552 or email [email protected].

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Sobre First Bank & Trust

We invest in our people: Our communities have contributed to the success of our business and our families. In turn, this allows us to contribute to the success of our communities. We have remained an independent community institution over the years and employ almost 700 people. Our employees are like family (they’re also part owners). Not only is working for us rewarding, but you’ll also be a part of a positive culture and company that gives back to the community. Our Benefits: Comprehensive Healthcare Benefits Peace of mind when it comes to you and your family's well-being with generous health, dental, vision, and life insurance. Plus, optional access to additional life, disability, and oth

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