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Plan Health Consultant

Company: Vestwell Inc
Location: New York
Posted on: May 28, 2023

Job Description:

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

    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

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