Compliance Specialist

Job Responsibilities:


The Compliance Specialist is responsible for performing ADP/ACP testing, Top Heavy testing, 415 testing as well as monitoring the 402(g) limit and preparing Form 5500 for all assigned plans.  The incumbent is responsible for calculating excess contributions, 415 violations and interest associated with the amounts of monies that need to be refunded. The incumbent is accountable for communicating 5500 results to client service representatives and clients.  The individual is also responsible for handling inquires in a timely manner, improving client relationships through effective communication both internally and externally to ensure that ML could reference 100% of clients.  In addition, the specialist is expected to participant in various committees to improve delivery timeframes and reduce costs.

 

? ADP/ACP Nondiscrimination Testing, Top Heavy Testing, Form 5500 Completion.

? Review information contained on the recordkeeping system and evaluates it for reasonableness as well as accuracy. 

? Communicate to the client service representatives and clients the results of the test or Form 5500.

? Prepare studies when requested by client or work on projects that generate revenue for ML.

? Follow up with client service/client as required to resolve outstanding issues in a timely and efficient manner.

? Determine ways that processes could be improved so that costs are reduced and work is delivered in a timely fashion.

? Work on different committees (5500, projected testing, year end testing, top heavy testing) to improve processes.Qualifications:


2-3 years 401K experience.  Preferred experience in 401K plans.  Basic understanding of plan documents.  Understanding of IRS rules and regulations and how to apply them to department responsibilities.  Individual should be knowledgeable on general recordkeeping systems,

Microsoft Excel and Microsoft Word.  This individual must have the ability to handle multiple complex issues at the same time.


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