Plan Termination / Deconversion Specialist
We are looking for a full-time Plan Termination / Deconversion Specialist either fully remote within the US or on-site in our Shrewsbury, New Jersey headquarters.
The Plan Termination / Deconversion Specialist role is a position pertinent to the success of NPPG. The ideal candidate has deep knowledge of ERISA, IRS, and DOL regulations. This role involves managing all aspects of plan terminations and plan deconversions.
Key Responsibilities
- Coordinate and process all plan termination documents and agreements
- Establish timelines for plan sponsors and internal teams and coordinate throughout the process
- Reconcile assets on a participant and plan level
- Determine reconciling items and obtain client approval to process
- Initiate reconciling transactions with recordkeepers and confirm completion
- Create and distribute participant notices
- Coordinate and oversee the distribution of plan assets, ensuring accurate and timely payments to participants and beneficiaries
- Initiate force-out process for terminated participant accounts with small balances
- Ensure required regulatory filings up to final Form 5500 are completed timely
- Collaborate directly with plan sponsors, participants, authorized plans contacts, recordkeepers and internal teams to address inquiries and resolve related issues regarding plan termination/deconversion
- Address and resolve any plan sponsor or participant concerns related to the termination process.
- Track progress of all plan terminations and deconversions to ensure deadlines are met
- Research related plan administration issues and develop appropriate corrective action strategies
- Identify opportunities to streamline existing processes and enhance client experience
- Perform assigned duties with minimal supervision and a high degree of accuracy
- Assist with other tasks and projects as assigned
Qualifications
- Minimum 2 years of plan termination / deconversion experience with a third-party retirement plan administrator (TPA) or 3–5 years of experience in 401(k) plan administration
- Strong knowledge of ERISA, IRS, and DOL regulation
- Excellent verbal and written communication skills
- Experience with different recordkeeping platforms
- Proficient with Microsoft Office Suite applications, especially Excel
- Ability to manage multiple priorities and meet deadlines in a fast-paced environment
- Excellent analytical, organizational, and communication skills
Preferred Qualifications
Experience drafting plan documents
Experience with MEPs/PEPs
Experience with Relius Administration and Relius Documents or similar software
ASPPA, NIPA and/or ERPA credentials
Bachelor's degree
NPPG ( www.nppg.com ) is an independent third-party administrator (TPA) that offers employee benefits, retirement planning, actuarial consulting, and fiduciary services. We provide clients with customized and comprehensive solutions for medical, dental, and disability insurance as well as 401(k), pension/actuarial and fiduciary services. NPPG operates as a trusted partner to ~8,000 clients nationally.
We are an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other protected characteristic as outlined by federal, state, and/or local laws.
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The Plan Termination / Deconversion Specialist role is a position pertinent to the success of NPPG. The ideal candidate has deep knowledge of ERISA, IRS, and DOL regulations. This role involves managing all aspects of plan terminations and plan deconversions.
Key Responsibilities
- Coordinate and process all plan termination documents and agreements
- Establish timelines for plan sponsors and internal teams and coordinate throughout the process
- Reconcile assets on a participant and plan level
- Determine reconciling items and obtain client approval to process
- Initiate reconciling transactions with recordkeepers and confirm completion
- Create and distribute participant notices
- Coordinate and oversee the distribution of plan assets, ensuring accurate and timely payments to participants and beneficiaries
- Initiate force-out process for terminated participant accounts with small balances
- Ensure required regulatory filings up to final Form 5500 are completed timely
- Collaborate directly with plan sponsors, participants, authorized plans contacts, recordkeepers and internal teams to address inquiries and resolve related issues regarding plan termination/deconversion
- Address and resolve any plan sponsor or participant concerns related to the termination process.
- Track progress of all plan terminations and deconversions to ensure deadlines are met
- Research related plan administration issues and develop appropriate corrective action strategies
- Identify opportunities to streamline existing processes and enhance client experience
- Perform assigned duties with minimal supervision and a high degree of accuracy
- Assist with other tasks and projects as assigned
Qualifications
- Minimum 2 years of plan termination / deconversion experience with a third-party retirement plan administrator (TPA) or 3–5 years of experience in 401(k) plan administration
- Strong knowledge of ERISA, IRS, and DOL regulation
- Excellent verbal and written communication skills
- Experience with different recordkeeping platforms
- Proficient with Microsoft Office Suite applications, especially Excel
- Ability to manage multiple priorities and meet deadlines in a fast-paced environment
- Excellent analytical, organizational, and communication skills
Preferred Qualifications
Experience drafting plan documents
Experience with MEPs/PEPs
Experience with Relius Administration and Relius Documents or similar software
ASPPA, NIPA and/or ERPA credentials
Bachelor's degree
NPPG ( www.nppg.com ) is an independent third-party administrator (TPA) that offers employee benefits, retirement planning, actuarial consulting, and fiduciary services. We provide clients with customized and comprehensive solutions for medical, dental, and disability insurance as well as 401(k), pension/actuarial and fiduciary services. NPPG operates as a trusted partner to ~8,000 clients nationally.
We are an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other protected characteristic as outlined by federal, state, and/or local laws.
Apply tot his job
Apply To this Job