Lifestyle

Outdoor

Surf

Diving

Fishing

Surfing

Senior Specialist

Senior Specialist, Plan Transfers & Profit Sharing is primarily responsible for managing 401(k) plan transfer-in and transfer-out procedures, communicating with Clients on all aspects of the process, coordinating with third-party administrators (TPAs), and calculating annual 401(k) employer profit sharing contributions using IRS guidelines.
Position Functions
• Manage assigned transfer-in and transfer-out caseload via SIMIS and Salesforce updating and notating, as needed.
• Communicate via email or phone with clients (internal and external) regarding the transfer-in and transfer-out process.
• Coordinate the receipt of a Client's prior 401(k) plan documents via email or fax from the Client's prior third-party administrator (TPA).
• Communicate with the prior plan TPA on the transfer process and coordinate transfer dates.
• Perform due diligence review of the prior Adoption Agreement, Summary Plan Description, Basic Plan Document, and Compliance Testing results to ensure IRS compliance standards are met.
• Remain up-to-date on acceptable formulas used for calculating 401(k) profit sharing contributions to ensure compliance with IRS regulations.
• Calculate annual employer profit sharing or matching contributions using data housed within Company systems.
• Utilize Relius to process wire transfers for yearly employer profit sharing contributions, plan assets transferring in, and exiting plan assets.
• Function as the primary liaison with the internal IT department on Salesforce issues and/or fixes.
• Provide excellent customer support for clients going through the merge-out process by assisting with questions/concerns.
• Create final accounting data file that matches the wire transfer for exiting plans and provide all required compliance documentation to the new TPA provider.
• Liquidate plans by transferring the plan assets to the client's new TPA provider through Relius.
• Utilize QuickBooks to provide Clients with invoices for merger fees and profit sharing fees.
• Assist other team members with the delegated caseload, as needed.

?

Coordinator, Plan Transfers & Profit Sharing provides administrative support to Clients as they transfer 401(k) plan service from a previous third-party administrator (TPA) to a new 401(k) provider. Primarily managing the distribution process for legal merger documents, and notifying internal departments of plan mergers.
Position Functions
• Communicate via email or phone with clients (internal and external) regarding the transfer-in and transfer-out process.
• Coordinate the receipt of a Client's prior 401(k) plan documents via email or fax from the Client's prior third-party administrator (TPA).
• Perform due diligence review of the prior Adoption Agreement, Summary Plan Description, Basic Plan Document, and Compliance Testing results to ensure IRS compliance standards are met.
• Manage the distribution of Department of Labor obligated 30-day Blackout Notices for all 401(k) participants transferring into Company administration.
• Provide notice to the Professional Employer Organization (PEO) regarding the receipt of a transfer request from the Client.
• Code plans in Relius with blackout information and notify affected internal departments via email.
• Manage assigned transfer-in and transfer-out caseload via SIMIS and Salesforce updating and notating, as needed.

Coordinator

At Slavic 401k, working as an intern for the contributions department, I've gained valuable experience in the 401k retirement fund industry. At Slavic I was educated on the 401k industry as a whole as well as retirement fund laws and regulations. Process multi-employer and single employer contribution payroll files through Relius software.
Position Functions
• Analyze participant's account data against current 401k laws and regulations
• Communicate fund amounts available to trade with trading our department
• Maintain current records for transactions
• Communicate with clients on the status of their contribution files
• Field questions from clients regarding account limits, loan payoffs, refunds, ineligibilities as well as other general 401k laws and regulations questions
• Discuss and rectify issues regarding operating software with the IT department
• Assist with record keeping and data entry for department members

Contributions Intern

Find out detailed information about William Brandimarte, Senior Specialist in Boca Raton, FL

William Brandimarte: Senior Specialist in Boca Raton, FL

William Brandimarte

401k Investments

Plan Transfers & Profit Sharing

Slavic 401k Investments

Florida Atlantic University

University of Central Florida