Summary:
The IAM National Pension Fund is conducting a search for a 401(K) Benefits Specialist to assist in the organization and administration of the IAM National 401k Plan. This role will act as direct support for the operation for the 401(k) Department using independent judgment and decision making to evaluate and make recommendations about benefit plan administration. This position will report directly to the 401k Manager and is a Non-bargaining Unit position.
Responsibilities Include:
(Any one position may not include all the specific duties and responsibilities listed. Examples provide a general summary of the work required and should not be treated as a total and complete list of expected duties to be performed by employees in the classification.)
- Review and resolve participant and employer inquiries related to checks, wires, Automated Clearing House (ACH), outstanding payments, payment plans, debits, credits, and account reconciliation of the 401(k) Plan.
- Maintain accurate records of employer delinquent and collection activities.
- Prepare and distribute letters to employers in accordance with the delinquency/collection policy.
- Collaborate with new and existing contributing employers on reporting of employer and participant contributions and census data to ensure timely and accurate funding transfers.
- Conduct annual review of all qualified plan compliance and data.
- Coordinate data collection and provide accurate and timely response to external requests from auditors and/or vendors for the completion of a requested review.
- Receives and reconciles invoices from vendors and/or service providers; processes and submits timely fund requests.
- Drafts written communication to employers/participants regarding 401(k) plans updates.
- Fully compliant administration of 401(k) plans according to ERISA, the Internal Revenue Code, and all applicable regulations.
- Prepare participants account for the processing of Qualified Domestic Relations Orders.
Qualifications:
- Undergraduate degree is preferred. In lieu of a degree, the candidate must have five (5) years of experience working in a 401(k)-plan environment.
- Three (3) years administering qualifying 401(k) plans.
- Subject matter expert regarding 401(k) defined contribution plan administration and compliance.
- Working knowledge of federal laws and regulations pertaining to the compliant operations of 401(k) plans (ERISA).
- Mathematical aptitude, advanced analytical, problem solving and decision-making skills.
- Intermediate to advanced proficiency with Microsoft applications including Word, Excel, PowerPoint, and Outlook.
- Excellent written and oral communications skills.
- Ability to communicate complex qualified plan concepts and business processes effectively orally and in writing.
- Excellent interpersonal skills displaying the ability to work with all levels of employees and management, externally and internally.
- Uncompromising integrity and ability to maintain strict confidentiality, strong client-facing, and teamwork skills.
Interested candidates must have a good attendance record, excellent interpersonal skills, and exemplify the IAMBFO Core Values.
Job Type: Full-time
Pay: $75,321.00 - $81,393.00 per year
Benefits:
- 401(k)
- Dental insurance
- Health insurance
- Life insurance
- Paid time off
- Vision insurance
Schedule:
- Monday to Friday
- No nights
- No weekends
Experience:
- 401 (K)- Plan: 5 years (Required)
Ability to Relocate:
- Washington, DC 20003: Relocate before starting work (Required)
Work Location: Hybrid remote in Washington, DC 20003