Vice President, Retirement Plan Services

For over 40 years, Utica Physicians’ Association, Ltd. (UPAL) has provided superior quality service not just to healthcare professionals, but also to a variety of other professional businesses and clients in need of financial planning, retirement plans, or personal investing services. Our 401(k) Retirement Program is a turn-key solution that includes administration, compliance, record keeping, and education. We also offer an IRA and Personal Investment Program through Charles Schwab.

Summary:

Responsible for all aspects of plan administration, compliance and reporting of all UPAL Program retirement plans. Assist with client services for IRA and personal brokerage accounts with Charles Schwab. UPAL retirement assets are custodied at Bank of Oklahoma (BOk). The IRA and brokerage accounts are custodied at Charles Schwab.

Essential Duties and Responsibilities:

Compliance:

·        Design/amend/restate retirement plan documents

·        Interpret plan documents and research retirement plan issues

·        Incorporate new legislative changes into administration

·        Develop and maintain administrative checklist

·        Develop policies and procedures

·        Communicate with plan sponsors regarding new legislation

·        Perform nondiscrimination testing (including but not limited to 402(g), 415(c), ADP, and Top Heavy)

·        Communicate and prepare all information requested by the IRS and/or DOL

·        Review preparation of Form 5500, 5330, Schedules SSA and SAR

·        Prepare and track all Safe Harbor Notices

·        Prepare and track all 408 Fee Disclosures for participants and plan administrators

·        Prepare account splits per QDROs

Plan Administration:

·        Ensure census data ties to UPAL and client records

·        Gathering census data for annual administration

·        Prepare funding requirements per the retirement plan document

·        Communicate funding requirements and resolve problems with the client

·        Prepare and communicate contribution and forfeiture allocations to BOK

·        Receive, verify and communicate all retirement plan contributions to BOK

·        Organize Plan transfers to/from other providers

·        Maintain tracking spreadsheet for all deadlines (including but not limited to 5500 filing,

final funding, forfeiture allocation, late contributions and extensions)

·        Review all distributions from retirement plans

·        Determine eligibility and review all online and routine distributions from retirement plans

·        Extensive client contact

Ø Assist employees with investment selection

Ø Attend Financial Management Committee dinner meetings – 4 each year

Ø Attend Board of Directors Meetings when needed

Ø Provide backup support for – calculation and collection of fees assessed on the Charles Schwab participant accounts.

Ø Provide back-up support for a variety of in-house duties, including retirement plan billing.

Ø Assist and/or complete other financial, accounting and related projects as assigned.

Ø Assist with Asset Allocations and Financial Planning support

Education, Experience and Certification:

Ø Bachelor’s degree plus minimum 10 years of relevant retirement plan administration experience.

Ø Series 65, Investment Advisor Representative Certification preferred but not required.

Supervisory Responsibilities: 

Ø Direct supervisory responsibilities over the plan administration staff.

Training Requirements:

Ø Stay up to date on rules, regulations, and ERISA requirements.

Ø Attend seminars when needed.

Physical Demands:

Ø No physical exertion required.

Ø Required to sit for extended periods of time in front of a computer.

Ø Work with files, binders and folders requiring some bending, stooping, kneeling, and balancing to move folders and files to and from.

Work Conditions:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderately quiet. The work environment is primarily indoors. The position does not typically travel, except to local client offices.

Important Notices: This job description is not an exhaustive list of all job functions that a team member in this position may be required to perform. Duties and responsibilities can be changed, expanded, reduced or delegated by management to meet the business needs of the company.

How to apply:

Please submit your inquiries and resume, with salary requirements to Lea Ann Nunley at lnunley@upal.com.