Compliance Administrator II - 401(k), Profit Sharing & Money Purchase

Job Description

Job Description

Compliance Administrator II – 401(k), Profit Sharing & Money Purchase

Department: Compliance
Reports To: Compliance Supervisor
FLSA Status: Non-Exempt
Pay Range: $34.00 – $38.00 per hour
Location: Chico, CA / Remote

COMPANY

Prime Pensions, Inc. is a well-established retirement plan administration and actuarial firm specializing in 401(k), profit sharing, defined benefit, and other qualified retirement plans for employers across the United States.

Since 1975, Prime Pensions has provided customized retirement plan solutions with an emphasis on technical expertise, accuracy, and personalized service. Our team supports a wide variety of plan designs and investment arrangements while maintaining comprehensive oversight and quality standards throughout the administration process.

Prime Pensions has been recognized as a leading defined contribution plan administrator and as one of NJBIZ's Best Places to Work in New Jersey.

POSITION SUMMARY

The Compliance Administrator II is responsible for the annual administration and compliance of 401(k), Profit Sharing, Money Purchase, and related Defined Contribution retirement plans. This position independently manages intermediate to advanced plan administration assignments, performs compliance testing and contribution calculations, and researches administrative issues while ensuring work is completed accurately and within established deadlines.

The ideal candidate has several years of retirement plan administration experience, strong technical and analytical skills, and the ability to independently manage a portfolio of plans with limited supervision.

ESSENTIAL DUTIES AND RESPONSIBILITIES Retirement Plan Administration & Compliance

• Perform annual administration and compliance work for 401(k), Profit Sharing, Money Purchase, and related Defined Contribution retirement plans.
• Independently administer single and dual-plan arrangements of varying sizes and complexity.
• Administer plans utilizing New Comparability, Age-Weighted, Safe Harbor, and other allocation methods.
• Review and analyze plan documents to determine applicable administrative provisions and ensure plans are administered in accordance with plan terms.
• Determine participant eligibility, compensation, service, and other applicable plan provisions.
• Determine Highly Compensated Employee (HCE) and Key Employee status.
• Determine and verify participant vesting.
• Perform IRC §410(b) coverage testing and Top-Heavy testing.
• Perform advanced ADP/ACP nondiscrimination testing.
• Analyze failed ADP/ACP testing and recommend appropriate correction methods.
• Perform advanced cross-testing and related nondiscrimination testing.
• Summarize and reconcile participant accounts as required for annual administration.
• Adjust participant accounts for applicable gains and losses based on plan asset performance.
• Administer plans with multiple participant loans and review loan information as part of the annual administration process.

Contributions & Plan Calculations

• Calculate annual employer contributions in accordance with plan provisions and applicable regulatory limits.
• Prepare preliminary contribution calculations and projections.
• Perform mid-year valuations and related calculations as required.
• Perform New Comparability, Age-Weighted, Safe Harbor, Profit Sharing, and Money Purchase contribution calculations.
• Review contribution allocations for compliance with applicable plan provisions and regulatory requirements.
• Identify potential contribution or compliance issues and communicate findings to the appropriate internal team members.
• Prepare accurate annual report summaries and supporting calculations.

Research & Technical Support

• Research retirement plan administration and compliance questions using applicable regulations, technical resources, and Company procedures.
• Interpret plan documents and complex technical guidance to resolve administrative questions.
• Develop accurate, detailed, and practical solutions to plan administration issues.
• Identify unusual or complex plan issues and appropriately escalate matters requiring additional technical review.
• Assist Consultants and other internal team members with plan administration and compliance-related questions.
• Stay informed of regulatory and procedural changes affecting Defined Contribution plan administration.

Workflow, Systems & Quality Management

• Coordinate assigned compliance workflow to ensure work is completed accurately and within established deadlines.
• Maintain accurate and timely records of completed and outstanding work within Company workflow, time-tracking, and administration systems, including WIP, Time Tracker, and APC Gold.
• Meet established internal turnaround times, productivity expectations, and quality standards.
• Prepare detailed compliance work while maintaining established departmental accuracy standards.
• Review work for accuracy and completeness prior to finalization or delivery.
• Effectively prioritize multiple plans, assignments, and deadlines, particularly during peak workload periods.
• Maintain reliable and satisfactory attendance.

ADDITIONAL DUTIES AND RESPONSIBILITIES

• Participate in individual and group discussions regarding departmental procedures, workflow, and process improvements.
• Assist with technical research, training, and special projects.
• Provide training, technical assistance, and mentorship to new or less-experienced employees as appropriate.
• Share technical knowledge and best practices with colleagues.
• Assist with implementation of regulatory, procedural, or system changes.
• Perform other duties and responsibilities as assigned.

QUALIFICATIONS Education & Experience

• Three (3) to six (6) years of retirement plan administration and compliance experience, preferably involving 401(k), Profit Sharing, and/or Money Purchase plans.
• Bachelor's degree in Business Administration, Finance, Accounting, Mathematics, or a related field preferred; equivalent relevant professional experience may be considered.
• Demonstrated experience independently administering retirement plans with limited supervision.
• Experience with New Comparability, Age-Weighted, Safe Harbor, and other Defined Contribution plan designs preferred.
• Experience performing ADP/ACP, coverage, Top-Heavy, and cross-testing.
• Strong mathematical and analytical background supported by professional experience and/or relevant coursework.
• Industry credentials such as QKA, QPA, or similar ASPPA/NAPA credentials are a plus.

KNOWLEDGE, SKILLS, AND ABILITIES

• Strong working knowledge of Defined Contribution retirement plan administration and compliance.
• Working knowledge of applicable IRS, DOL, and ERISA requirements.
• Strong understanding of eligibility, vesting, contribution allocations, nondiscrimination testing, coverage testing, and Top-Heavy requirements.
• Ability to interpret plan documents, technical guidance, and regulatory information.
• Strong mathematical, analytical, and problem-solving skills.
• Strong attention to detail with the ability to maintain a high degree of accuracy.
• Ability to independently research technical questions and develop accurate and detailed solutions.
• Ability to work independently with limited supervision while appropriately escalating complex matters.
• Strong organizational and time-management skills with the ability to manage multiple plans and competing deadlines.
• Ability to work efficiently and accurately in a deadline-driven environment.
• Strong written and verbal communication skills.
• Strong interpersonal skills and ability to collaborate effectively across teams.
• Proficiency with Microsoft Office applications, particularly Excel and Word.
• Experience with retirement plan administration and compliance software preferred.
• Ability to learn and effectively utilize Company workflow, time-tracking, and administration systems.
• Ability to meet established productivity, quality, and turnaround expectations.

PHYSICAL / ENVIRONMENTAL CHARACTERISTICS

Work is primarily performed in a professional office or remote work environment and may require:

• Sitting for prolonged periods while working at a computer.
• Frequent use of a computer keyboard, mouse, telephone, and other standard office equipment.
• Periodic standing, walking, reaching, bending, crouching, or kneeling.
• Occasionally lifting, carrying, pushing, or pulling office materials weighing up to 30 pounds.
• Visual, hearing, mobility, and manual dexterity sufficient to perform the essential functions of the position, with or without reasonable accommodation.

COMPENSATION & BENEFITS

• Full-time, non-exempt position.
• Hourly pay range of $34.00 – $38.00 per hour , based on experience, qualifications, and other job-related factors.
• Eligible for Company-sponsored benefits available to full-time employees, including health benefits, voluntary benefits, and participation in the Company's 401(k) plan, subject to applicable plan terms and eligibility requirements.

WORK LOCATION

This position may be performed remotely or from the Company's Chico, California office , based on business needs and the employee's approved work arrangement.