CoAdvantage
  • - 401(k) Administrator
  • Sarasota, FL, USA
  • Full Time

CoAd Summary:

CoAdvantage, a portfolio company of Morgan Stanley Global Private Equity, provides human resource solutions to small and mid-sized businesses.  Headquartered in Tampa, Florida, CoAdvantage serves approximately 4000 clients representing more than 90,000 worksite employees in all 50 states through our 10 regional office locations.  The passion, commitment and expertise of our Associates allow us to deliver outstanding HR services to our clients, from entrepreneurial startups to mature business enterprises.  CoAdvantage's resources help America's business community grow and thrive!

 

Position Summary: 

Performs duties associated with all the day to day participant level 401(K) inquiries via calls and email from start to completion.  Understanding of 401(k) plan recordkeeping and compliance, data accuracy, attention to detail and strong written and verbal communication skills are essential in this position which interacts with multiple service providers, internal client service teams, client employers and worksite employees.

Essential Job Functions:

  • Work with MassMutual team to verify participant data
  • Work with MassMutual team to resolve participant issues
  • Process all weekly participant deferral changes
  • Gathers the necessary information to set up retirement plan eligibility and contribution calculation rules in the payroll system
  • Works with plan provider and internal resources to efficiently provide the agreed upon services relative to client sponsored plans.
  • Works closely with IT to identify, test and resolve HRP system issues, enhancements and upgrades.
  • Uploads and keys individual employee contribution elections and 401(k) loan payments into HRP.
  • Monitors delinquent loan reports; contacts employees to make repayments arrangements; coordinates loan default process.
  • Researches new hire, rehire and employee termination events in conjunction with plan rules.
  • Takes incoming phone calls from all client companies and providers. Reacts within specified time frames to all customer inquiries and maintains superior client relationships.
  • Conducts complete investigation into potential errors and plan administration issues. Documents appropriately and makes recommendations about necessary actions to be taken.
  • Responds to client, employee and provider inquiries related to retirement benefit programs.
  • Fully documents calls and interactions per guidelines. Maintains CRM documentation in an orderly fashion to allow access by other company representatives.
  • Must be self-motivated and thrive in a fast-paced, team environment and able to work effectively with supervision and direction.
  • Manage online enrollment portal.
  • Presents compliance test results to clients and HCEs, makes recommendation to prevent testing failure and works to maintain client satisfaction with Retirement Services department.
  • Work closely with HRC team to build and maintain strong customer relationships and deliver ongoing superior service.
  • Provides data and information to external auditors in conjunctions with annual and periodic audits and researching exceptions.
  • Proactively recommends changes to operating procedures to maximize accuracy and productivity.
  • Escalates issues/concerns/special requests to 401(k) Supervisor.
  • Establish and maintain effective working relationships with area staff, management and clients.
  • Performs other duties and special projects as assigned.
  • Demonstrates a consistent attitude of excellence and uncompromising integrity in a highly collaborative teamwork environment.
  • Ensure work area is clean, secure (HIPAA compliant) and well maintained.

Required Skills and Experience:

 

  • Excellent verbal and written communication skills.
  • Excellent customer relationship and interpersonal skills
  • Works well in a team environment.
  • Able to maintain confidential information.
  • Defined contribution plan administration experience; or equivalent combination of education and experience.
  • Strong analytical and problem solving abilities.
  • Knowledge of word processing and spreadsheet applications like Excel and Word
  • Ability to quickly learn new software applications.
  • Strong knowledge of and experience working in an environment where payrolls/benefits are processed daily a plus
  • Strong organizational skills.
  • Good time management.
  • Excellent attention to detail
  • Stay abreast of compliance regulations and changes in the field of MEP's, ERISA and DOL requirements.
  • Must be self-motivated and thrive in a fast-paced, team environment and able to work effectively with supervision and direction.
  • Manage online enrollment portal.
  • Presents compliance test results to clients and HCEs, makes recommendation to prevent testing failure and works to maintain client satisfaction with Retirement Services department.
  • Work closely with HRC team to build and maintain strong customer relationships and deliver ongoing superior service.
  • Provides data and information to external auditors in conjunctions with annual and periodic audits and researching exceptions.
  • Proactively recommends changes to operating procedures to maximize accuracy and productivity.
  • Escalates issues/concerns/special requests to 401(k) Supervisor.
  • Establish and maintain effective working relationships with area staff, management and clients.
  • Performs other duties and special projects as assigned.
  • Demonstrates a consistent attitude of excellence and uncompromising integrity in a highly collaborative teamwork environment.
  • Ensure work area is clean, secure (HIPAA compliant) and well maintained.

Stay abreast of compliance regulations and changes in the field of MEP's, ERISA and DOL requirements.

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