3(16) Account Manager (Overlay product)
Pentegra Services, Inc. United States · $75K–$90K/yr
Financial Services · 201-500 employees
About the role
The Account Manager provides superior customer service and issue resolution for retirement plan clients while maintaining strong relationships. They are responsible for overseeing compliance testing, reviewing plan documents, and ensuring accurate contribution calculations and regulatory filings.
What they look for
Requirements
Candidates must have at least 5 years of defined contribution retirement compliance experience and at least 1 year in an account management role. A QKA designation is required or must be attained, along with mastery of administrator functions and strong communication skills.
Full description
Base salaries are determined during our interview process, by assessing a candidate’s experience, skills against internal peers and against the scope and responsibilities of the position.
Location: Remote
Reports to: Director, 3(16) Overlay
Classification: Exempt __X____ Non- Exempt ______
Job Summary:
Account Manager services Enhanced 3(16), Comprehensive 3(16) and Institutional 3(16) clients; maintains Bundled Recordkeeper/client/advisor relationships for approximately 100 Comprehensive clients and assists with Enhanced 3(16) clients; reviews compliance testing; contribution calculations; sign / file Form 5500 and works with auditors. The position requires high levels of confidentiality and the ability to work as part of a team, while independently managing accounts. Excellent communication skills and a full understanding of customer service is a must. Position is for experienced Account Managers.
Responsibilities:
- Provides timely, superior customer service and issue resolution to clients and advisors
- Maintains client relationships with high client retention rate
- Interprets plan documents. Able to identify and effectively communicate improvements to clients and partners.
- Thorough knowledge of ERISA, IRS & DOL regulations regarding qualified plans
- Works with assigned Administrator to ensure deadlines are met timely
- Works with client to ensure Plan corrections are properly executed
- Support the training and development of new team members by providing guidance, sharing best practices, and helping them develop the skills and knowledge needed to succeed in the role.
- Participate in projects throughout the year in order to support the team in meeting industry deadlines.
- Assigned Account Manager for key clients, including large and significant retirement plans.
Enhanced 3(16), Comprehensive 3(16) and Institutional 3(16) Responsibilities:
- Review Form 5500 as prepared by Bundled Recordkeeper
- Review compliance Testing as prepared by the Bundled Recordkeeper (ADP/ACP; 415; 402(g) 416, 410(b))
- Review census data including any data integrity reports, if applicable
- Review employer contribution calculations as prepared by Bundled Recordkeeper
- Review participant QDROs prior to sending to Legal
- Review hardship distribution requests
- Work with plan’s Form 5500 auditor to provide limited audit support for Enhanced 3(16) clients.
- Provides oversight and management of the following tasks as performed by Bundled Recordkeeper for an assigned client base of approximately 100 Comprehensive clients.• Review Plan Document
- Review SPD and SMM for compliance with ERISA
- Review recordkeeper’s preparation and delivery of required plan Notices (including the participant fee disclosure notice)
- Review eligibility provisions and determinations
- Review enrollment
- Review vesting
- Authorize and review the Bundled Recordkeeper’s preparation of SAR
- Confirm forfeitures / Suspense Accounts were used in accordance with plan document
- Confirm the Bundled Recordkeeper processed all involuntary distributions
- Conduct Annual Plan Review (APR)
- Works with Bundled Recordkeeper to pull contribution report to track the timeliness of contributions
- Works with plan’s Form 5500 auditor to provide audit support.
Requirements:
- 5+ Years of Defined Contribution retirement compliance and service experience
- Minimum of 1 year in Account Manager or similar role in retirement administration.
- QKA designation required or willingness to attain.
- Excellent Client Relationship skills
- Mastery of administrator functions and skills
- Problem solving ability
- Excellent communication and organizational skills
- Ability to work in fast paced team environment
- Knowledge of Excel and other Microsoft applications/software
- Experience with FT Williams strongly desired
- Ability and willingness to provide a high level of service to clients and partners.
- 3(16) Fiduciary Services knowledge a plus
- If remote employee, must have previous experience working from home
