FuturePlan is the nation’s largest third-party administrator (TPA) of retirement plans, partnering with advisors in all 50 states. FuturePlan delivers the best of both worlds: high-touch personalized service from local TPAs backed by the strength and security of a large national firm, Ascensus. Our roots go back decades, with nearly 30 outstanding legacy firms now joined together to deliver unmatched levels of service, innovation and expertise to a fast-growing client base from coast to coast. The FuturePlan team includes more than 500 credentialed plan professionals, 60 actuaries, and one of the industry’s largest in-house ERISA teams. Learn more at FuturePlan.com.
The key responsibilities of this position are to work with our pension consultants, distribution team, vendors and clients to facilitate in all steps of the benefit calculations and packaging process to ensure the process is being handled in an effective and efficient manner. The Retirement Plan Coordinator will support the team in providing a high level of service to both associates and clients. The role involves understanding how to perform Defined Benefit calculations (traditional defined benefit and cash balance) and how to deliver/consult with the plan sponsors on completion of the distribution packages.
- Complete benefit calculations for Defined Benefit Plans (traditional defined benefit and cash balance) plans in order to create distribution packages.
- Prepare benefit packages for approved calculations, including benefit packages for plan terminations and force out distributions.
- Complete all steps that the plan’s distribution process entails (Penchecks, payouts with brokerage firms, working with recordkeepers for distribution processing).
- Follow up to ensure distributions have been processed, retrieving copies of statements showing such information.
- Process and keep track of Required Minimum Distributions
- Maintain spreadsheet of distributions for preparation of 1099R forms and work with plan consultants and vendors to issue Forms 1099R.
- Research and resolve any outstanding distribution issues.
- Submit distribution billing tickets as needed.
- Utilize TracIt, our internal database, and all features (i.e. email logging, email templates, letter templates, reports, etc.), understanding how it relates to the job functions.
- Update database regularly for tracking of distributions
- Understands ASC, our valuation/document system, and how it relates to the job functions.
- Collaborate with team members on ways to improve processes in order to meet team goals and objectives.
- Meet expectations of job by attendance, punctuality as indicated in the employee policy handbook.
- Perform other duties and/or special projects as assigned.
- Responsible for protecting and securing all client data held by FuturePlan to ensure against unauthorized access to and/or improper transmission of information that could result in harm to FuturePlan or clients.
- Ensure all Ascensus security requirements for “PII” are met when communicating with clients and all other external contacts.
- Our I-Client philosophy and the Core Values of People Matter, Quality First and Integrity Always® should be visible in your actions on a day-to-day basis showing your support of our organizational culture.
- Associates degree in Business Administration, Management, Finance or equivalent work experience. 3-5 years of industry experience in retirement services environment, preferably defined benefit experience
- Familiarity MS-Office software applications, including Excel, PowerPoint and Word (familiarity with Access preferred)
- Ability to work overtime as necessary.
The candidate must be able to demonstrate the skills/competencies as listed below.
- Communication Skills – Communication with peers, manager and clients on specific assigned tasks. Demonstrates ability to clearly articulate and document action taken or action necessary
- Technical Knowledge – ERISA and/or Retirement Industry knowledge required, defined benefit experienced preferred.
- Problem Solving- Processes work items per procedural direction. Requires assistance in solving problems that involve non-standard items.
- Detail Oriented Vs. Big Picture- Generally focuses on details of a specific task related to a process. Focus is entirely task based with extreme attention to detail.
- Conflict Resolution – Identifies and escalates conflict so that it can be addressed by senior associates and/or leadership.
- Training/Mentoring – New associate that requires training in business function
- Risk Taking/Decision Making – Recognizes instances where a decision is required for an item within their assigned tasks and escalates effectively.
- Planning/Organizing – Generally plans for current day in order to meet task specific objectives as defined. Generally planning for self only. May require some assistance with department specific task organization.
- Time Management/Prioritization – Works best with a pre-defined schedule or set of existing priorities. Responsibility to manage own tasks.
- Initiative/Work Ethic – Completes daily tasks as assigned within appropriate time frames. Works best when able to complete one task before starting another.
For all virtual remote positions, in order to ensure associates can effectively perform their job duties with no distractions, we require an uninterrupted virtual work space and there is also an expectation of family care being in place during business hours. Additionally, there is an internet work speed requirement of 25 MBps or better for individual use. If more than one person is utilizing the same internet connection in the same household or building, then a stronger connection is required. If you are unsure of your internet speed, please check with your service provider. Note: For call center roles specifically, it is a requirement to either hardwire your equipment directly to the internet router or ensure your workstation is in close proximity to the router. Please ensure that you are able to meet these expectations before applying.