AFL-CIO

Retirement Plan Administrator Jobs at AFL-CIO

Sample Retirement Plan Administrator Job Description

Retirement Plan Administrator

OVERVIEW OF RESPONSIBILITIES:
The Retirement Plan Administrator is responsible for the management of the AFL-CIO Staff Retirement Plan, a multiemployer defined benefit plan, and the AFL-CIO 401K Plan, a multiemployer defined contribution plan. Both plans have the majority of administration performed by outside third party administrators (TPA). The Retirement Plan Administrator monitors the performance of the TPA and serves as liaison between the Trustees, Plan Professionals, TPA and Contributing Employers.

The Retirement Plan Administrator facilitates the process of new groups joining the plans as well as mergers with existing plans, making recommendations regarding plan design and benefit improvements, and ensuring the plans are in compliance with all Employee Retirement and Income Security Act (ERISA), Internal Revenue Service (IRS) and Department of Labor (DOL) regulations and requirements.

The Retirement Plan Administrator is a management position that works under the supervision of the respective Boards of Trustees.

DESCRIPTION OF DUTIES:
• Responsible for scheduling, attending and developing the agenda for semiannual Trustees meeting of both Plans;
• In coordination with the advisors, ensures plan administration, programming and reporting is in compliance with plan provisions and legal requirements;
• In coordination with the Investment Consultant, schedules and develops the agenda for semiannual Investment Committee meetings;
• Monitors the performance of the Plans third party administrators;
• Monitors the performance of plan professionals and conducts periodic requests for proposals (RFP) for plan services;
• Works in facilitating new employers joining the plans and helps identify and facilitate the merging of existing plans;
• Conducts presentations of plan designs and provisions to the staff of contributing employers as requested;
• Acts as an internal advocate, and technical resource, for plan participants and facilitates the collection and presentation of records to support appeals and disability determinations;
• For the 401K Plan, audits and reconciles plan participant contributions and loan repayments;
• Conducts annual nondiscrimination tests to ensure plans comply with regulations;
• Assists in the preparation of communications to participants for education and compliance;
• Submits quarterly fees to TRP prior to the end of each quarter for extraction from the majority of the participants accounts;
• Reviews handles rollovers, QDROS, minimum required distributions and related transactions;
• Prepares the annual fiduciary liability insurance renewal coverage application;
• Processes participant terminations for 401 K Plan;
• Responsible for data collection and nondiscrimination testing for both Plans;
• Responsible for periodic desk audits of contributing employers;
• Managing output of staff and vendors;
• Other duties as assigned.

QUALIFICATIONS:
• Bachelor's degree preferred with a minimum of 15 years of experience in the administration of an ERISA qualified defined benefit pension plan.
• Thorough understanding of Taft-Hartley jointly administered multiemployer plans.
• Experience managing and monitoring Plan Consultants including Third Party Administrators, Actuarial Consultants, Investment Consultants, Legal Counsel and Certified Public Accountants;
• Demonstrated successful experience managing employees;
• Extensive knowledge of and experience with both national, state and local structures of the labor movement;
• Excellent listening, interpersonal, communication and problem solving skills;
• Demonstrated ability to resolve conflicts while maintaining important and effective relationships;
• Ability to work both collaboratively and independently;
• Strong focus on details;
• Effective time management skills, including prioritizing and managing multiple tasks;
• Excellent written and verbal communication skills;
• Ability to work long and extended hours;
• Computer proficiency is required: email, internet, spreadsheet, and word processing.

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