Loan & Withdrawal Specialist (Remote Opportunities Available) at Ascensus in Portland, Maine

Posted in Other 8 days ago.

Job Description:

FuturePlan is the nation's largest third-party administrator (TPA) of retirement plans, partnering with advisors in all 50 states. FuturePlan delivers the best of both worlds: high-touch personalized service from local TPAs backed by the strength and security of a large national firm, Ascensus. Our roots go back decades, with nearly 30 outstanding legacy firms now joined together to deliver unmatched levels of service, innovation and expertise to a fast-growing client base from coast to coast. The FuturePlan team includes more than 500 credentialed plan professionals, 60 actuaries, and one of the industry's largest in-house ERISA teams. Learn more at

Section 1: Position Summary

Timely and accurate completion of loan and withdrawal projects. Provides excellent customer service to both internal and external clients, reviews defined contribution loan and withdrawal work performed by others and performs complex calculations for cash balance pension plans.

Section 2: Job Functions, Essential Duties and Responsibilities

  • Responsible for protecting, securing, and proper handling of all confidential data held by Ascensus to ensure against unauthorized access, improper transmission, and/or unapproved disclosure of information that could result in harm to Ascensus or our clients.

  • Our I-Client service philosophy and our Core Values of People Matter, Quality First and Integrity Always should be visible in your actions on a day to day basis showing your support of our organizational culture.

  • Assist with other tasks and projects as assigned

  • Review loan, vested benefits, refund packages and Required Minimum Distribution calculations for 401(k) and other Defined Contribution plans.

  • Calculate vested benefits for Cash Balance Plans.

  • Perform calculations for Notice of Participant Benefits and election packages on terminating plans.

  • Perform calculations for refunds on 401(k) Plans.

  • Perform Required Minimum Distribution calculations on Defined Contribution and Cash Balance Plans.

  • Perform technical research to answer questions as needed.

  • Perform quality review of loan and withdrawal packages before sending to clients.

  • Send loan and withdrawal packages to clients on a timely basis to meet customer expectations and service standards.

  • Answer loan and withdrawal questions from clients, participants and staff in a helpful, friendly, knowledgeable and proactive manner.

  • Assist clients to navigate our website to download forms.

  • Understand pension plan documents to determine individual plan specifications.

  • Participate in and assist with implementing improvements to the loan and withdrawal process.

  • Ensure accuracy and completeness of the Loan &Withdrawal tracking logs.

  • Provide support to Loan &Withdrawal phone lines.

  • Provide back up to other teams, as requested.

  • Other duties as assigned.


  • N/A

Section 3: Experience, Skills, Knowledge Requirements

  • Minimum 1 year of experience in processing loans and withdrawals for Defined Contribution and Cash Balance Plans.

  • Actuarial experience with strong math skills

  • Analytical and Conceptual

  • Detail and accuracy oriented

  • Excellent written and oral communication with strong interpersonal skills, including ability to communicate technical concepts.

  • Proficient in Microsoft Word, Excel and PowerPoint

  • Ability to juggle multiple tasks and prioritize

  • Ability to work in fast paced, ever changing office environment

  • Dependable with excellent follow through on commitments and responsibilities

  • Must be available to work overtime as deemed necessary

  • Must be able to sit for long periods (at least 8 hours per day).

  • Must be able to work on a computer at least 8 hours per day (includes looking at a monitor, typing using a keyboard and using a computer mouse).

  • B.A./B.S. degree preferred.

  • QKA preferred

  • ASPPA or SOA exams leading to designations are preferred

We are proud to be an Equal Opportunity Employer

At Ascensus, we aspire to make a difference for others. We are a technology-enabled services company that helps people save for retirement, education, and healthcare through our network of institutional, financial advisor, and state partners. Our culture is guided by sound principles, is committed to high standards, operates with transparency, and welcomes diversity-housed within our Core Values: People Matter. Quality First. Integrity Always.

As a leading independent recordkeeping services partner, retirement plan third-party administrator, and government savings facilitator, we aim to hire associates who find pride in going to work every day knowing that they help more than 12 million people save for what matters.

Ascensus provides equal employment opportunities to all associates and applicants for employment without regard to ancestry, race, color, religion, sex, (including pregnancy, childbirth, breastfeeding and/or related medical conditions), gender, gender identity, gender expression, national origin, age, physical or mental disability, medical condition (including cancer and genetic characteristics), marital status, military or veteran status, genetic information, sexual orientation, criminal conviction record or any other protected category in accordance with applicable federal, state, or local laws ("Protected Status").