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Plan Compliance Specialist

Role overview

Responsibilities

  • Performing compliance nondiscrimination testing and Form 5500 reporting for clients' defined contribution plans
  • Analyzing annual or mid-year census information from clients and completing annual nondiscrimination testing requirements
  • Calculating and preparing proposals for year-end or true-up employer allocations
  • Ensuring that neither participants nor client plans exceed IRS and plan limits

Key facts

Other skills

  • Analytical Skills
  • Problem Solving
  • Detail Oriented

About the company

Ascensus logo

Ascensus

Financial Services

Ascensus helps millions of people save for what matters—retirement, education, and healthcare. We’re also one of the savings plan industry’s leading providers of outsourced services. Our technology, market insights, and business knowledge enhance the growth and success of our partners, their clients, and savers. Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. For more information, visit ascensus.com.

Company details

Company typeXLarge
IndustryFinancial Services
Company size5001 - 10000

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Job description

AmericanTCS, recently integrated as part of Ascensus, has forged a lasting legacy for more than 50 years, embodying strength and resilience while championing change and innovation across the retirement industry. We provide a diverse range of tailored retirement plan solutions that symbolize resilience, versatility and strength.

This position is responsible for performing compliance nondiscrimination testing and Form 5500 reporting for our clients' defined contribution plans. This is required to assure that retirement plans remain qualified, and that contributions and benefits are tested and allocated properly, within
regulatory deadlines.

Duties/Responsibilities:
• Analyzing annual or mid-year census information from clients and completing annual nondiscrimination testing requirements, which may include but are not limited to determining if eligibility provisions have been calculated correctly and calculating and preparing proposals for year-end or true-up employer allocations.
• Performing required testing such as "average deferral percentage/average contribution percentage," Top Heavy, Coverage, Compensation Nondiscrimination, General Nondiscrimination, and Control Group Determinations.
• Ensuring that neither participants nor client plans exceed IRS and plan limits.
• Having the ability to learn and perform advanced annual nondiscrimination testing, to include but not be limited to new comparability allocations, integrated allocations, and average benefit testing.
• Calculating employer allocation projections for existing clients.
• Preparing Form 5500 and other reporting, which may include (among other things) reconciling plan financial statements, preparing annual audit packages for applicable plans and providing audit support to auditors and clients.
• Preparing other government filings as required such as Form 8955SSA, Form 5558, and Form 5330.
• Providing support to internal and external partners for compliance testing and reporting.
• Identifying and recognizing any compliance issues that arise from a plan's testing and reporting process and analyzing and recommending corrective action related to such issues. Logging workload information into database for tracking purposes.
• Possess a strong understanding of department processes, procedures and standards

The national average salary is $65,000 - $75,000, exclusive of any bonuses and benefits. This salary range represents the low and high end for this position. Actual salary offered will vary and may be above or below the range based on various factors including but not limited to location, experience, performance, and internal pay alignment. We do not anticipate that candidates hired will begin at the top of the range however, from time to time, it may occur on a case-by-case basis.  Other rewards and benefits may include: 401(k) match, Medical, Dental, Vision, Paid-Time-Off, etc.  For more information, please visit careers.ascensus.com/#Benefits.

Be aware of employment fraud. All email communications from Ascensus or its hiring managers originate from @ascensus.com or @futureplan.com email addresses. We will never ask you for payment or require you to purchase any equipment. If you are suspicious or unsure about validity of a job posting, we strongly encourage you to apply directly through our website.

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Marcus Rivera

Chief Revenue Officer

m.rivera@company.com
linkedin.com/in/marcusrivera
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