Senior Plan Consultant, Defined Benefit
Job Summary
Responsible for completion of annual nondiscrimination testing and Form 5500 filings for defined benefit retirement plans. Collaborates directly with advisors, actuaries, auditors, and plan sponsors to provide consulting on plan design, funding contributions, and Form 5500 reconciliation.
Job Responsibilities
- Performs nondiscrimination, coverage, and top-heavy testing for defined benefit plans up to 250 participants, in accordance with documented procedures and IRS regulations.
- Calculates annual required and discretionary employer contributions based on actuarial valuations and funding requirements.
- Identifies and calculates corrective actions for testing failures or contribution errors in compliance with IRS correction programs (e.g., EPCRS).
- Consults with plan sponsors to explain testing results, funding obligations, and any necessary corrective actions.
- Assists in the preparation of IRS Form 5500 and related schedules, including Schedule SB and actuarial attachments, for defined benefit plan filings.
- Supports plan audits by preparing required financial and actuarial documentation, including asset and liability reconciliations.
- Assists with gathering and reconciling historical and current plan data during plan conversions, mergers, or terminations
- Ensures compliance with internal deadlines and regulatory filing requirements.
- Performs other duties related to defined benefit plan administration and compliance, as assigned
Requirements
- 5–10 years of experience in defined benefit or retirement plan administration (preferred)
- Ability to read and understand complex documentation related to defined benefit plan design, funding, and compliance
- Knowledge of basic accounting principles and the ability to apply them to reconcile defined benefit plan assets and liabilities
- Experience with FTWilliam.com software (preferred)
- Willingness to pursue professional certifications such as the QPA, QKA, or CBS through ASPPA or Society of Actuary and Enrolled Actuary exams
- Ability to reconcile trust statements and actuarial reports to plan assets and contribution schedules
- Intermediate proficiency in Microsoft Excel, including use of formulas, pivot tables, and reconciliation templates
- Adaptable and eager to learn and grow in a collaborative and evolving work environment
- Self-starter with strong problem-solving skills and the ability to work independently
- Capable of managing priorities and meeting IRS and DOL regulatory deadlines, particularly during peak seasons
- Strong interpersonal, written, and verbal communication skills
- Excellent attention to detail, with a focus on accuracy in data and reporting
- Basic customer service skills, with the ability to explain complex issues to clients clearly and professionally
Responsible for completion of annual nondiscrimination testing and Form 5500 filings for defined benefit retirement plans. Collaborates directly with advisors, actuaries, auditors, and plan sponsors to provide consulting on plan design, funding contributions, and Form 5500 reconciliation.
Job Responsibilities
- Performs nondiscrimination, coverage, and top-heavy testing for defined benefit plans up to 250 participants, in accordance with documented procedures and IRS regulations.
- Calculates annual required and discretionary employer contributions based on actuarial valuations and funding requirements.
- Identifies and calculates corrective actions for testing failures or contribution errors in compliance with IRS correction programs (e.g., EPCRS).
- Consults with plan sponsors to explain testing results, funding obligations, and any necessary corrective actions.
- Assists in the preparation of IRS Form 5500 and related schedules, including Schedule SB and actuarial attachments, for defined benefit plan filings.
- Supports plan audits by preparing required financial and actuarial documentation, including asset and liability reconciliations.
- Assists with gathering and reconciling historical and current plan data during plan conversions, mergers, or terminations
- Ensures compliance with internal deadlines and regulatory filing requirements.
- Performs other duties related to defined benefit plan administration and compliance, as assigned
Requirements
- 5–10 years of experience in defined benefit or retirement plan administration (preferred)
- Ability to read and understand complex documentation related to defined benefit plan design, funding, and compliance
- Knowledge of basic accounting principles and the ability to apply them to reconcile defined benefit plan assets and liabilities
- Experience with FTWilliam.com software (preferred)
- Willingness to pursue professional certifications such as the QPA, QKA, or CBS through ASPPA or Society of Actuary and Enrolled Actuary exams
- Ability to reconcile trust statements and actuarial reports to plan assets and contribution schedules
- Intermediate proficiency in Microsoft Excel, including use of formulas, pivot tables, and reconciliation templates
- Adaptable and eager to learn and grow in a collaborative and evolving work environment
- Self-starter with strong problem-solving skills and the ability to work independently
- Capable of managing priorities and meeting IRS and DOL regulatory deadlines, particularly during peak seasons
- Strong interpersonal, written, and verbal communication skills
- Excellent attention to detail, with a focus on accuracy in data and reporting
- Basic customer service skills, with the ability to explain complex issues to clients clearly and professionally