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Newport, an Ascensus company, helps employers offer their associates a more secure financial future through retirement plans, insurance and consulting services. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. As a provider and partner, Newport is independent, experienced, and responsive.

Job Summary: Performs compliance testing, document support and government forms preparation for complex retirement plan clients. Ensures that assigned plans remain tax qualified by meeting all IRS and DOL reporting and testing requirements, including reporting on all accounting and financial activity for the plan. Communicates with plan sponsors to update and correct required data necessary to perform various testing required by government regulations (ADP, ACP, 415, 401(a)(4), coverage and top heavy testing).

Essential Functions Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.

Investigates and clarifies client data or census problemsPrepares non-discrimination tests, top heavy tests, coverage tests, 415 annual addition tests on larger and more technically complex plans, including additional compliance testing that must be done such as 401(a)4Review of testing and/or Government FormsMaintains client database and enters changes into record keeping softwareCompletes testing and ensures quality control audit is performedServes as technical expertise to compliance analysts and provides resolutions to support businessAllocates employer profit sharing, matching and/or money purchase pension contributions based upon plan provisions and submits to plan sponsor for approval Calculates contribution corrections or top-heavy minimum contributions for plan sponsorsCommunicates test results and recommends solutions to client when specific failures are identified Produces reports from record keeping system for preparation of government forms for clientPrepares Form 5500 and related schedules using government forms softwareSubmits financial reports and Form 5500 package for review, correction, approval and submission to client and governing agencyPrepares plan document restatements and amendments as requested by plan sponsor. Interprets prior plan document historyWorks with administration team to produce distributions or allocations of contributions or forfeitures based upon client approval, and ensures deadlines are identified and metConsults on, recommends, and implements resolutions to client issues, satisfaction, response and any other items necessary to assure customer loyaltyMaintains current awareness and understanding of legislative changes, IRS rulings, and expert opinions related to the processing of retirement plansResearch new issues to determine their impact on plan qualification status and communicates with manager on daily processing issuesConsistently meets and/or exceeds performance expectations with the ability to work under pressure in a very fast paced environmentFocuses on learning in everyday activities and events Collaborates with and openly shares knowledge with colleaguesRegular, reliable, and punctual attendance

Management Responsibilities (None)

Required Education, Experience and Certificates, Licenses, Registrations

Bachelor’s degree in a business-related field or industry experience, or a combination of education and industry experience4+ years’ experience in employee benefitsExperience in testing and 5500Strong MS Office skills

Preferred (but not required) education or skills for this role

ASPPA certificationASC preferred

Competencies

AnalyticalAvid LearnerBuilds Collaborative RelationshipsCustomer OrientedDetail OrientedExcellent Verbal and Written Communication SkillsInformation SeekerJudgementPlanning and OrganizingProblem SolverResourcefulTeam PlayerTime Management

TRAVEL: Up to 5%

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

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