Job Opportunity Details

Retirement Plan Consultant
Job Code FNB01067
Location Fairview Center NAI
Description


Review, analyze and amend Defined Contribution plans and prepare summary plan descriptions, reports and recommendations.  Prepare and submit required government reports and document filings as necessary.  Additionally, this role is responsible for preparing reports and presentations for clients, preparing loan documents and amortization schedules and tracking loan payments.

 

 

ESSENTIAL DUTIES and RESPONSIBILITIES include, but are not limited to the following:

 

  • Compile various types of information needed to produce quarterly, semi-annual or annual allocation reports: review and update plan specifications, input census, identify Highly Compensated Employees and Key Employees; prepare SPD enrollment list for newly eligible employees; identify employees past normal retirement age or over 70 1/2; check vesting;calculate maximum tax deductible contribution; prepare contribution reporting form, if required.

  • Reconcile plan assets each valuation period

  • Develop and implement any plan amendments as necessary

  • Update plan specifications.  Allocate employer contribution(s),forfeitures, and investment earnings to plan participants.  Determine top heavy status of plan.  Check 415 limits.  Conduct other applicable compliance tests or reviews relating to: 410(b), ADP, ACP, 402(g), 401(a)(4).  Run benefit statements for plan participants.

  • Prepare IRS Form 5500 and any related schedules that are necessary as well as Summary Annual Report.   File Forms electronically.

  • Calculate benefits for participants due to termination, hardship withdrawals, loans, required minimum distribution or in-service withdrawals.  Determine taxable amounts and distribution codes.

  • Prepare loan documents and loan amortization schedules.  Track loan repayments.

  • Maintain contact with and answers inquiries from various sources: clients, accountants, attorneys, insurance agents, brokers, referrers, participants. Conduct research, if required, to respond to specific questions.

  • Prepare special studies for current or prospective clients.

  • Prepare required paperwork for plan termination, including benefit election forms.

  • Gather information requested by the IRS for plan audits.

  • Prepare Form 1099 and Form 945.

  • Maintain professional designation, if applicable.

  • Communicate with accountant during large plan audit, if necessary.

  • Communicate with the Department of Labor and/or IRS during audit.

  • Attend client meetings as required.

  • Work on new cases assigned to set up ASC/AMS.  Request prior year’s information from client to establish proper data base. 

  • Keep current on all technical issues related to Defined Contribution Plans.

  • On closed cases, remove case files after final allocation has been completed and advise AMS Coordinator to change case status.

  • Conduct open enrollments.

  • Perform other duties as assigned to contribute to the overall efficiency and smooth operation of the firm.

  • Complete all mandatory and elective training, including BSA (Bank Secrecy Act) and Anti-Money Laundering procedures. Maintain compliance with all appropriate rules and regulations.

  • Regular, predictable attendance is an essential requirement of this position

     

     

EDUCATION and/or EXPERIENCE:

 

  • High School Diploma or G.E.D. required

  • Minimum of two (2) years’ experience with defined contribution plans preferred

  • Basic math and/or accounting skills

Farmers National Banc Corp. is an Equal Opportunity Employer: disability/veteran

Date Open 04/15/2019

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