EdgeCo Holdings is comprised of several affiliated companies focused on providing a broad array of sophisticated financial products, technology, and support services in the areas of full-service retirement plan administration, brokerage services, and trust & custody solutions. EdgeCo provides these services through numerous subsidiary entities including American Trust, Mid Atlantic Trust Company, NewEdge Capital Group and PensionPro Software.
The 3(16) Administrative Officer will be responsible for the completion and oversight of plan administration tasks including, but not limited to: compliance testing, calculation, and review of plan contributions, notice delivery, document review, and service communications. The individual filling this role will be the primary service contact for 3(16) Fiduciary Services clients, and requires strong organizational skills, attention to detail, and exceptional time management.
Provide high level service to external and internal clients
Interpret plan documents to ensure compliance with IRS and DOL regulations
Review census information to determine eligibility, and key and highly compensated employees
Develop and own communication structure for newly eligible participants
Develop and own communication structure for ongoing participant notices
Assist clients in establishing policies and procedures to communicate plan benefits to their employees
Review payroll to determine timeliness of deposits and accuracy of contribution calculations
Assist in the calculation of employer contributions related to nondiscrimination testing, coverage testing, and other compliance requirements
Review and approve distributions, loans, and rollover contributions
Administer the plan’s mandatory force-out policy
Review and approve any/all compliance testing and required reporting including, but not limited to: Form 5500, 8955 SSA, 1099R, and 945
Identify issues related to fiduciary responsibilities, such as adequate bonding, impact of nonqualified assets on bonding, and prohibited transactions
Prepare client/end-user reporting and confirm accuracy of data
Communicate issues and recommendations for resolution to clients
Review plan to make recommendations to clients for maximizing tax advantages or other benefits
Evaluate takeover plans and identify compliance issues
Support DOL, IRS, and account audits, as needed
Minimum of 5 years of Defined Contribution administration experience requiring critical thinking, analysis, detail orientation and customer service
Competence in all areas of Defined Contribution/401(k) plan administration
Comprehensive understanding of complex plans
Sound knowledge of compliance requirements regarding employer contribution calculations, deduction limits, contribution deposit deadlines, top heavy determinations, coverage testing, controlled groups, and annual additions limitations
Software Skills: MS Office 2007–Excel, Word, Outlook, Adobe Acrobat
Knowledge of all aspects of qualified plan distributions
Understanding of IRS filing requirements and deadlines for qualified plans
Understanding of methods for researching DOL, IRS, and other related regulations and procedures
Ability to effectively communicate, both in writing and orally, in a professional manner
Maintains a positive attitude when addressing questions and problems
Ability to work under pressure of deadlines and demanding clients
Ability to work with minimal supervision
Good organizational skills and ability to set priorities consistent with service standards
Ability to adjust priorities with changes in the annual business cycle of pension administration
Analytical and critical-thinking skills
Excellent interpersonal skills
Demonstrates initiative and good judgement
Experience with Relius Administration software, FT Williams Forms and PensionPro preferred.
Experience with “daily” recordkeeping retirement plans preferred.
Able to react to change productively.
Expert knowledge of ERISA, IRS, and DOL regulations
Education and Experience:
College degree or relevant work experience.
QKA (Qualified 401(k) Administrator) designation preferred.
Employees are eligible to participate in company benefits including health, dental, and vision insurance on the first of the month after their hire date. The company also provides a 401(k) plan with company match, group life insurance, short- and long-term disability, as well as additional voluntary benefits for employees to elect participation in.