401(k) Compliance Testing (ADP/ACP, ASC Tool)

Performs full beginning to end compliance testing, document support and government forms preparation for complex retirement plan clients.  Ensures that assigned plans remain tax qualified by meeting all IRS and DOL reporting and testing requirements, including reporting on all accounting and financial activity for the plan. Communicates with plan sponsors to update and correct required data necessary to perform various testing required by government regulations (ADP, ACP, 415, 401(a)(4), coverage and top heavy testing).

Role & responsibilities

• Investigates and clarifies client data or census problems
• Prepares non-discrimination tests, top heavy tests, coverage tests, 415 annual addition tests on larger and more technically complex plans, including additional compliance testing that must be done such as 401(a)4
• Review of testing and/or Government Forms
• Completes testing and ensures quality control audit is performed
• Serves as technical expertise to compliance analysts and provides resolutions to support business
• Allocates employer profit sharing, matching and/or money purchase pension contributions based upon plan provisions and submits to plan sponsor for approval
• Calculates contribution corrections or top-heavy minimum contributions for plan sponsors
• Communicates test results and recommends solutions to client when specific failures are identified        
• Prepares Form 5500 and related schedules using government forms software
• Submits financial reports and Form 5500 package for review, correction, approval and submission to client and governing agency
• Maintains current awareness and understanding of legislative changes, IRS rulings, and expert opinions related to the processing of retirement plans
• Consistently meets and/or exceeds performance expectations with the ability to work under pressure in a very fast paced environment.