401(k) Specialist - Sarasota
- - Finance
- Sarasota, FL, USA
- Full Time
Who is CoAdvantage?
"CoAdvantage, a portfolio company of Morgan Stanley Global Private Equity, is a market leader in providing human resource solutions to small and mid-sized businesses on a national level. We deliver core human resource functions to our clients allowing them the ability to focus on strategically managing and growing their business.
Headquartered in Tampa, Florida, CoAdvantage takes a regional approach with 12 offices across the country serving more than 4,000 clients and representing approximately 90,000 worksite employees in all 50 states. The experience of our executive leadership team and internal workforce allow us to deliver outstanding service to our customers, ranging from entrepreneurial startups to those in more mature industries. Defined by our core values, we believe that our greatest asset is our people and their passion for our clients!"
The Retirement Services department is responsible for the accurate and timely transmission and reporting of contribution and census data for more than 700 client adopters sponsored by CoAdvantage. 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.
- Gathers the necessary information to set up retirement plan eligibility and contribution calculation rules in the payroll/ HR Pyramid 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) Director.
- 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.
- Must have high school diploma or GED
- Associates or bachelor's degree preferred
- 2 to 4 years of defined contribution plan administration experience; or equivalent combination of education and experience.
- 401(k) Administration experience (compliance, testing, audits, plan design, implementation, etc.)
- Knowledge of and the ability to properly apply retirement plan regulations and plan provisions to a variety of retirement plans and providers.
- Strong analytical and problem solving abilities.
- Advanced knowledge of Excel and ability to quickly learn new software applications.
- Excellent verbal and written communication skills.
- Excellent customer relationship and interpersonal skills
- Strong knowledge of HR Pyramid, experience working in an environment where payrolls/benefits are processed daily a plus
- Strong organizational skills.
- Knowledge of word processing and spreadsheet applications.
- Good time management.
- Excellent attention to detail.
- Works well in a team environment.
- Able to maintain confidential information.
What can our Associates expect from us?
CoAdvantage associates have access to a wide variety of benefits options: comprehensive health, dental, and vision insurance options, 401K with a company match, flexible spending accounts, paid time off (PTO), no-cost life and disability insurance, and full access to ancillary benefits such as identity theft, cancer protection, pet insurance and many more.
CoAdvantage is an Equal Opportunity Employer.
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