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.
This position is mainly responsible for performing compliance nondiscrimination testing and Form 5500 reporting for defined contribution plans in relation to our TPA and balance forward business. This is required to assure that retirement plans remain qualified, contributions and benefits are tested and allocated properly, and all completed within regulatory deadlines.
Navigate recordkeeping vendor websites to download reports and forms, reconcile contributions, import annual activity, and balance accounts.
Become familiar with each recordkeeping vendor processes.
Update vesting through vendor websites to ensure participants accounts are reflected correctly.
Analyze 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.
Perform required testing such as “average deferral percentage/average contribution percentage,” Top Heavy, Coverage, Compensation Nondiscrimination, General Nondiscrimination, and Control Group Determinations.
Ensure that neither participants nor client plans exceed IRS and plan limits.
Ability to perform advanced annual nondiscrimination testing, to include but not be limited to new comparability allocations, integrated allocations, and average benefit testing.
Calculate employer allocation projections for existing clients.
Prepare plan level financial reports for balance forward and self-directed brokerage account plans
Prepare 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.
Prepare other government filings as required such as Form 8955-SSA, Form 5558, and Form 5330.
Provide support to internal and external partners for compliance testing and reporting.
Identify and recognize any compliance issues that arise from a plan’s testing and reporting process and recommend corrective action related to such issues.
Enter workflow task completion information into database for tracking purposes.
Support /lead departmental initiatives and projects.
Perform consistently above average review ratings.
Possess a strong understanding of department processes, procedures and standards
Excellent verbal and written communication skills.
Excellent interpersonal and customer service skills.
Proficient in Microsoft Office Suite or related software.
Excellent organizational skills and attention to detail.
Ability to work independently and in a team environment.
Ability to operate PC, calculator, copy/scan/fax machine, telephone
Ability to work with the following software: Relius Administration, FTWilliam 5500, PensionPro, SalesForce.
Ability to read and interpret plan documents.
Ability to meet regulatory deadlines as well as team and personal goals.
Strong problem solving and analytical skills.
Ability to handle multiple projects and prioritize workload.
Able to react to change productively.
Strong knowledge of ERISA, IRS and other relevant regulations.
Education and Experience:
College degree or relevant work experience.
Five or more years of Retirement or Pension experience preferred.
Industry related designation(s) 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.