Distribution Administrator

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.

Job Summary:             The Distribution Administrator is responsible for processing and reviewing participant distribution requests for 401(k) retirement plans administered by the firm.    This role ensures all distributions are following IRS regulations, plan provisions, and internal service standards.    This role requires a proactive, flexible team player who is detail-oriented, well versed in retirement plan distribution types (terminations, hardships, RMDs, QDROs, loans etc.) and able to handle high volumes of transactions accurately and efficiently.  The role also involves monitoring recordkeeping platforms for new requests, ensuring timely and accurate case creation in Salesforce, training new employees, and providing backup support to colleagues during absences.  This position requires the ability to maintain high levels of confidentiality, excellent analytical skills, attention to detail, accuracy and problem-solving ability and the ability to work as part of a team, while independently managing the caseload.  Flexibility and a team-focused mindset are required, as the administrator may be asked to support other operational functions or shift priorities based on workload and business needs.

Key Responsibilities:

• Process and approve all types of distribution requests in accordance with plan documents and IRS guidelines.  Including but not limited to lump sum withdrawals, in-service withdrawals, loans, hardship withdrawals, required minimum distributions (RMDs), Qualified Domestic Relations Orders (QDROs) and death benefit claims. 
• Ensure each request is in good order (IGO) – complete, accurate and compliant with IRS regulations and plan provisions by verifying forms, documentation, signatures and other required elements are completed.
• Identify Not in Good Order (NIGO) requests, determine what information is missing or incorrect and take appropriate steps to resolve issues.
• Clearly communicate with NIGO team, plan participants, plan sponsors or advisors in a professional and supportive manner, outlining what is needed for the request to proceed 
• Prepare and submit distribution requests for processing within internal deadlines.
• Monitor designated recordkeeping platforms daily for newly submitted participants’ requests
• Ensure appropriate and timely creation of Salesforce cases for all new distribution activity for completeness.
• Maintain accurate and organized records of all transactions and correspondence.
• Assist in training and onboarding new employees to the distribution team by providing instructions, job shadowing opportunities, and guidance on standard processes.
• Serve as a backup for other team members during scheduled or unscheduled absences to ensure continued workflow and service standards are maintained.
• Collaborate with other teams as needed to support cross-functional initiatives and address participant or plan issues
• Respond to basic email inquiries from clients or internal teams regarding the status of requests.
• Use (and update) Relius to extent necessary to complete distributions
• Track open distribution cases and follow up on outstanding documentation as needed.
• Learn and apply compliance rules related to retirement plan distributions.
• Learn to navigate various recordkeeper platforms.
• Calculate participant’s hardship, loan and RMD amounts
• Prepare loan amortization schedules and forward to plan sponsor
• Assist with periodic tasks including year-end reporting and audit support
• Adapt to changing priorities and contribute to group efforts to meet deadlines during high-volume periods or special projects.

Requirements:

• Associate or bachelor’s degree preferred, or equivalent work experience in retirement plan administration
• Minimum 2 years of experience in 401(k) distribution processing within a TPA or recordkeeper environment
• Excellent verbal and written communication skills
• Knowledge of Excel and other Microsoft applications/software
• Strong math, analytical and problem-solving skills
• Strong attention to detail and a high level of accuracy
• Ability to manage multiple tasks and meet deadlines
• Comfortable learning new systems and working with data
• Willingness to learn retirement plan concepts and grow in the role 
• High level of service to internal customers and clients alike
• Relius, Salesforce a plus