3(16) Account Manager (Overlay product)

Base salaries are determined during our interview process, by assessing a candidate’s experience, skills against internal peers and against the scope and responsibilities of the position.

Location: Remote

Reports to: Director, 3(16) Overlay

Classification: Exempt __X____ Non- Exempt ______

Job Summary:

Account Manager services Enhanced 3(16), Comprehensive 3(16) and Institutional 3(16) clients; maintains Bundled Recordkeeper/client/advisor relationships for approximately 100 Comprehensive clients and assists with Enhanced 3(16) clients; reviews compliance testing; contribution calculations; sign / file Form 5500 and works with auditors. The position requires high levels of confidentiality and the ability to work as part of a team, while independently managing accounts. Excellent communication skills and a full understanding of customer service is a must. Position is for experienced Account Managers.

Responsibilities:

• Provides timely, superior customer service and issue resolution to clients and advisors
• Maintains client relationships with high client retention rate
• Interprets plan documents. Able to identify and effectively communicate improvements to clients and partners.
• Thorough knowledge of ERISA, IRS & DOL regulations regarding qualified plans
• Works with assigned Administrator to ensure deadlines are met timely
• Works with client to ensure Plan corrections are properly executed
• Support the training and development of new team members by providing guidance, sharing best practices, and helping them develop the skills and knowledge needed to succeed in the role.
• Participate in projects throughout the year in order to support the team in meeting industry deadlines.
• Assigned Account Manager for key clients, including large and significant retirement plans.

Enhanced 3(16), Comprehensive 3(16) and Institutional 3(16) Responsibilities:

• Review Form 5500 as prepared by Bundled Recordkeeper
• Review compliance Testing as prepared by the Bundled Recordkeeper (ADP/ACP; 415; 402(g) 416, 410(b))
• Review census data including any data integrity reports, if applicable
• Review employer contribution calculations as prepared by Bundled Recordkeeper
• Review participant QDROs prior to sending to Legal
• Review hardship distribution requests
• Work with plan’s Form 5500 auditor to provide limited audit support for Enhanced 3(16) clients.
• Provides oversight and management of the following tasks as performed byBundled Recordkeeper for an assigned client base of approximately 100 Comprehensive clients.
  • Review Plan Document
  • Review SPD and SMM for compliance with ERISA
  • Review recordkeeper’s preparation and delivery of required plan Notices (including the participant fee disclosure notice)
  • Review eligibility provisions and determinations
  • Review enrollment
  • Review vesting
  • Authorize and review the Bundled Recordkeeper’s preparation of SAR
  • Confirm forfeitures / Suspense Accounts were used in accordance with plan document
  • Confirm the Bundled Recordkeeper processed all involuntary distributions
  • Conduct Annual Plan Review (APR)
  • Works with Bundled Recordkeeper to pull contribution report to track the timeliness of contributions
  • Works with plan’s Form 5500 auditor to provide audit support.

Requirements:

• 5+ Years of Defined Contribution retirement compliance and service experience
• Minimum of 1 year in Account Manager or similar role in retirement administration.
• QKA designation required or willingness to attain.
• Excellent Client Relationship skills
• Mastery of administrator functions and skills
• Problem solving ability
• Excellent communication and organizational skills
• Ability to work in fast paced team environment
• Knowledge of Excel and other Microsoft applications/software
• Experience with FT Williams strongly desired
• Ability and willingness to provide a high level of service to clients and partners.
• 3(16) Fiduciary Services knowledge a plus
• If remote employee, must have previous experience working from home