Plan Health Consultant
Company: Vestwell Inc
Location: New York
Posted on: May 28, 2023
Job Description:
WHAT WILL YOU BE DOING?
Day-To-Day, You Will Be Expected To:
- Support plan design changes for active plans by performing a
plan health review, using as necessary dependent on type of
amendment requested
- Provide detailed plan analysis and outcome modeling including
profit sharing and safe harbor design comparisons -
- Project manage a smooth transfer of incoming amendment requests
from client-facing Team through operationalization on
platform
- Perform plan amendment evaluations considering - mid-year
change legal requirements, protected benefit analysis, and
alignment with Vestwell platform requirements
- Assess per-participant implications for amendment requests
prior to plan change
- assess per-participant operationalization to assure amendment
is applied correctly during operationalization
- Assess potential corrections issues on both plan and
participant levels
- Support team members with process reviews, research, and
documentation
- Provide live support for team members with clients and/or
advisors -
- Contribute to discussions with product and engineering teams to
continually iterate on our technology supported design & onboarding
processes
REQUIREMENTS
The Necessities:
- Considerable background in defined contribution/qualified plan
experience including client-facing support, design consultation,
document drafting, and year-end testing
- Thorough understanding of Employee Retirement Income Security
Act (ERISA), Department of Labor (DOL), Internal Revenue Service
(IRS) regulations
- Expert understanding of 401(k) and Profit Sharing plans,
in-depth knowledge of 403(b) plans, and experience with
MEPs/PEPs/GOPs, spin-offs, mergers and acquisitions
- Keen attention to detail, deadlines, and customer service needs
to support internal stakeholders and external advisors
- Collaboration with internal stakeholders and with clients to
clearly communicate the process, timing & plan design
considerations of new and restated plans
- Strong, demonstrated commitment to proactively managing
workload
- Positive, collaborative, and proactive attitude
- Proficiency with Excel and Microsoft Office suite; Google
Workspace; cloud-based client portals and internal network
drives
The Extras:
- Experience in use of API with major plan document
provider
- Understanding of plan document providers' use of schema related
to plan provisions
- Prior work experience in a technology-forward retirement
organization, or experience working for a major plan document
provider
- Knowledge of one or more non-discrimination testing systems (Ft
William, Datair, ASC, Sungard Relius)
- Knowledge of one or more plan document drafting systems (e.g.,
FT William, Datair, ASC, Sungard Relius)
- Qualified 401(k) Administrator (QKA) or higher credential from
ASPPA
The expected salary range for this position is 80k-90k. Please note
that salary bands are based on NY and other similar metro areas and
may differ based on where the role is ultimately hired.
Attention California residents: In the course of conducting our
business and complying with federal, state, and local government
regulations governing such matters as employment, tax, insurance,
etc., we must collect Personal Information from you. Should you
accept employment with Vestwell you may view our California Privacy
Rights Act here -
Keywords: Vestwell Inc, New York , Plan Health Consultant, Healthcare , New York, New York
Didn't find what you're looking for? Search again!
Loading more jobs...