Distribution Associate, Specialization

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. Section 1: Position Summary The Distributions Associate will support the Loans and Distributions team to provide timely and accurate processing of distributions/loans. Will work closely with internal and external clients to ensure that transactions are processed in a timely manner and exceptions are resolved as quickly as possible. Section 2: Job Functions, Essential Duties and Responsibilities Timely and accurate processing of assigned disbursements (loans, terminations, hardships, etc.) Assist with reconciliation of 1099R records by researching and resolving discrepancies on payouts including applicable state and federal tax withholding, fees, etc. Partner with various trust companies, recordkeepers and internal departments to ensure participant checks are mailed timely. Also ensure all trust excesses are identified and invested or resolved timely. Timely and accurate production and distribution of 1099R’s, RMD’s, death benefits, corrective distributions, and other cyclical events related to distribution processing. Timely and accurate reinvestment of un-cashed and/or voided distribution checks. Effectively communicate (verbal/written) with clients on transaction forms that are not in good order and follow up as necessary to ensure timely completion. Ability to identify basic internal escalated issues/concerns and refer to your leadership team. Consistently provide a high level of customer service while communicating and coordinating with internal/external business units to assist in issue resolution. Partner with other departments as a resource when issues and/or questions arise Resolve basic internal and external client issues by responding to all correspondence within communicated and departmental standard timeframes. Collaborate with team members to continuously improve processes that enhance the ability to meet team goals and objectives. Document procedures and workflows. Responsible for protecting, securing, and proper handling of all confidential data held by FuturePlan to ensure against unauthorized access, improper transmission, and/or unapproved disclosure of information that could result in harm to FuturePlan or our clients. Our I-Client service philosophy and our 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. Supervision N/A Section 3: Experience, Skills, Knowledge Requirements 1-3 years of experience in loans and distributions, retirement plans or related field Demonstrates ability to document procedures that are clear and easy to understand. Effectively communicates with clients on specific tasks. Technical Knowledge - Minimal ERISA knowledge or job specific technical knowledge required. Demonstrates in depth understanding of assigned tasks. Problem Solving- Effectively solves problems with direction utilizing resources/procedures for a specific process, with a defined resolution. Works efficiently with a pre-defined schedule or set of existing priorities, with ability to effectively adapt if a situation calls for it. Responsibility to manage own tasks but may need assistance dealing with conflicting priorities. Works well independently on specific tasks. May require some direction in more complicated tasks. Able to develop and maintain rapport with others and demonstrates respect for others. Bachelor’s degree preferably in Business Administration, Management, Finance or equivalent work experience Familiarity MS-Office software applications, including Excel & Word Be aware of employment fraud. All email communications from Ascensus or its hiring managers originate from @ascensus.com or @futureplan.com email addresses. We will never ask you for payment or require you to purchase any equipment. If you are suspicious or unsure about validity of a job posting, we strongly encourage you to apply directly through our website. #J-18808-Ljbffr