This person provides direct support to the Recordkeeping Supervisor and Officers in servicing and administration of Pension, 401(k), 457(b), and Profit-Sharing Plans.  This person prepares allocations and individual participant statements, communicates with client administrators to gather testing data, and reviews census information.  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 in business administration, finance, or accounting and five years of prior trust or accounting experience or the equivalent.  While not required, some formal computer science training is highly recommended.  This person should also possess good written and oral communication skills.  

Principal Responsibilities: 

• Establish and maintain employee benefit plans on the participant recordkeeping system per the plan’s adoption agreement.  Maintain individual enrollment, investment elections, and beneficiary and withdrawal forms. 

• Input employee deferrals on recordkeeping system to generate proper deposit and investment allocation, verify deposit, and resolve discrepancies with client if needed.  Place mutual fund trades with the order desk same day and settle trades next day.  Verify share and dollar balances prior to posting to the participant and plan accounts. 

• Manage incoming participant and plan sponsor calls regarding employee distribution requests, hardship withdrawals, loans, and direct rollovers, and process transactions accordingly. 

• Export prices for various mutual funds from the trust accounting system and import to the participant recordkeeping system on a daily basis.  Create transactions needed to balance the Employee Benefit Trust Funds, by plan, to the Relius retirement system. 

• Complete the WEB database moves and verify sample account balances and activity on each system by plan and participant. 

• Reconcile the Employee Benefit Trust Fund to the participant recordkeeping system daily and/or quarterly on all plans, including participant contributions, earnings, forfeitures, and distributions.   

• Gather employer census data and prepare participant statements, allocation report, summary annual report, and all other applicable investment reports.   

• Responsible for keeping up to date on Relius system changes along with all Federal, IRS, DOL, and ERISA Rules and Regulations pertaining to qualified retirement plans. 

• Monitor each plan for compliance with IRS, ERISA, and DOL rules and regulations, and complete all required compliance and discrimination testing as required by the plan administrator and trustee. Communicate with Plan Sponsor and/or officer in charge of the testing results.  Provide proactive solutions to testing violations. 

• Prepare signature-ready electronic Form 5500 federal tax return and appropriate schedules.  Also responsible to prepare 1099-R tax forms for distributions from employee benefit plans and IRA accounts, accounting separately for tax withholding to IRS on tax Form 945.   

• Perform duties of other Retirement Plan Services Specialist when absent.   

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

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