401(k) Plan Administration
- Responsible for all aspects of 401(k) plan administration for the Questco 401(k) multi-employer
plan and any client owned 401(k) plans. - Serve as the primary contact with Clients, Plan Sponsors and our third-party investment advisor on
all matters involving the Questco 401(k) plan. - Responsible for the timely response to client and employee questions related to retirement
services within the established Questco turnaround timeframes, including handling complex
retirement issues and making recommendations to internal management and client plan sponsors
on the appropriate course of action.
Responsible for the accuracy of all system records for active, deferred, retired or separated
members as it relates to their retirement enrollment through the oversight of the tasks performed
by the Retirement Services Coordinator, including:
- Ensuring completeness of employee data reconciliation of payroll 401(k) contributions and
year-end balances up to the IRS annual limits. - Ensuring accurate reporting of contributions and allocation calculations including
Employer Match, Safe Harbor, etc. - Ensuring weekly funding is completed timely and accurately for all funds managed by
Questco (including select client-owned plans). - Ensuring retirement plan loans are processed timely in the PrismHR system.
- Ensuring accurate calculation and reporting of corrective contributions and distributions
when applicable.
- Responsible for reviewing, interpreting and advising on Client Plan Documents, Amendments,
Notices and Summary Plan Descriptions as requested. - Responsible for the successful onboarding of Clients onto the Questco 401(k) multi-employer plan
by partnering with the Company’s third-party investment advisor, third-party 401(k) administrator
and the Questco Onboarding Team to ensure an excellent client experience in all areas including
education, plan adoption, plan mergers and participant enrollment. - Responsible for Non-Discrimination Testing by providing the Company’s third party 401(k)
administrator the necessary documentation required each year, reviewing test results and
communicating recommendations to clients on how to move forward for testing failures. - Responsible for the completion of the annual 410(k) plan audit by partnering with external auditors
to ensure timely delivery and filing of Form 5500. - Provide back-up support for 401(k) service team as needed, including submission of weekly funding
contributions, processing enrollment / contribution changes, and preparing weekly contribution
reports for clients.
Health and Welfare Plan Administration
- Responsible for establishing and maintaining appropriate legal structure, agreements, financial
reporting and annual filings for any Company health plans requiring compliance with the rules and
regulations set forth under the Employee Retirement Income Security Act (“ERISA”). - Responsible for creating and maintaining Wrap SPDs and partnering with the Benefits Brokerage
Team to distribute according to the guidelines set under ERISA. - Responsible for monitoring Questco’s COBRA/State Continuation processes to ensure compliance.
- Responsible for creating and maintaining annual compliance notices (i.e., Medicare Part D, etc.)
and partnering with the Benefits Brokerage Team to distribute according to the guidelines set
under ERISA. - Responsible for the creation and distribution of the ACA Forms 1095C and 1094C by partnering
with internal brokerage and third-party resources to ensure timely delivery. - Conduct applicable nondiscrimination test for Questco’s the tax advantage plans (Section 125
cafeteria flexible spending account (FSA), and Health Reimbursement Arrangements (HRAs)
Questco Expectations
- Maintain a professional and respectful approach with clients and teammates
- Accuracy of work and punctual per any assigned schedule
- Timely completion of all administrative duties for timesheets and expense reports, as applicable
- Partners with all internal departments to help improve client retention
- Fosters an inclusive environment and collaborative approach with teammates
- Always act with integrity, abide by our Code of Ethics, Core Values and employee handbook
Required Qualifications
- A minimum Bachelor’s degree or equivalent experience Benefits Compliance Manager
- 4+ years of experience in Health and Welfare administration and related products is preferred
- 2+ years of experience in defined contribution plans and related products is preferred.
- Minimum 2 years retirement plan administration experience with emphasis in 401k to include identifying contribution and match discrepancies.
- Prior PEO experience preferred, preferably in 401k/Benefits
- Knowledge of ERISA, DOL and IRS regulations for retirement plan compliance including familiarity with Form 5500 filings
Required Skills
- Experience with Adobe and intermediate to advanced Excel skills to include v-lookups, macros and pivot table
- Detailed oriented and ability to handle multiple projects and deadlines
- Strong interpersonal communication skills, ability to handle sensitive client situations gracefully
- Professional verbal and written communication skills
- Must be able to maintain the highest level of confidentiality with the ability to handle sensitive material concerning the organization and its clients
Physical Requirements, Language Skills:
- Must be able to work flexible schedules when needed to support business needs
- Frequent viewing of computer terminal with wrist/finger movement to operate a computer keyboard and mouse
- Requires sitting or standing for long periods of time
- Must be able to lift and carry up to 25lbs. periodically
- Bend, reach, pull, stoop, and push are all elements of physical activity for this position
- Fluency in English – speak, read and write
Travel: