Transition Services Specialist - 401K
Core
Coordinate the cancellation or discontinuance of 401(k) plans to new providers, ensuring compliance with IRS/DOL regulations and timely asset distribution.
Role type
Transition Services Specialist (401k Plan Administration)
Builds
Plan termination processes and asset distributions for contract holders and participants
Domain
Financial Services / Retirement Plan Administration
Deliverable
client delivery
Required skills
401k plan administration, IRS/DOL regulatory compliance, contract management, asset distribution, quality auditing, system data updates
Preferred skills
5500 fund preparation, plan year-end reviews, compliance testing
Technologies
None explicitly stated
Responsibilities
Process plan cancellations for contracts including investment-only contracts; Communicate with employers throughout the termination process; Ensure contract requirements are met and assets are distributed timely; Make system changes to close out sales credits and service commitments; Perform quality audits and report findings; Check for complex processes like 5500 fund preparation and compliance testing
Seniority
Entry-level to Junior, hands-on IC