Plan Compliance Specialist

Role Overview

The Plan Compliance Specialist performs compliance nondiscrimination testing and Form 5500 reporting for clients’ defined contribution retirement plans. The work helps ensure plans remain qualified and that contributions/benefits are properly tested and allocated within regulatory deadlines.

Responsibilities

• Analyze annual or mid-year client census data to complete annual nondiscrimination testing requirements.
• Determine whether eligibility provisions are calculated correctly and prepare proposals for year-end/true-up employer allocations.
• Perform required testing, including:
  • Average Deferral Percentage / Average Contribution Percentage
  • Top Heavy
  • Coverage and Compensation Nondiscrimination
  • General Nondiscrimination
  • Control Group Determinations
• Ensure participants and client plans do not exceed IRS and plan limits.
• Learn and perform advanced annual nondiscrimination testing (e.g., new comparability, integrated allocations, average benefit testing).
• Calculate employer allocation projections for existing clients.
• Prepare Form 5500 and other reporting, such as:
  • Reconciling plan financial statements
  • Preparing annual audit packages (where applicable)
  • Supporting auditors and clients
• Prepare other government filings, including Form 8955SSA, Form 5558, and Form 5330.
• Provide support to internal and external partners for compliance testing and reporting.
• Identify compliance issues from testing/reporting, analyze root causes, and recommend corrective actions.
• Log workload information into a database for tracking.
• Maintain a strong understanding of departmental processes, procedures, and standards.

Requirements

• Strong understanding of nondiscrimination testing and compliance reporting processes (advanced testing capability expected via learning/on-the-job).

Nice to Have

• Experience with advanced nondiscrimination testing methodologies (e.g., new comparability allocations, integrated allocations, average benefit testing).
• Experience preparing audit packages and supporting auditors for applicable plans.