Pension Distribution Administrator I at Ascensus in St. Croix, Virgin Islands

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 FuturePlan.com.

Manage the accurate and timely processing of distributions and participant loans in compliance with all Internal Revenue Service regulations, plan provisions and company policies as it relates to the processing of all distributions from Qualified Retirement Plans, ensuring excellent customer service.

Job Functions, Essential Duties and Responsibilities

• Determine timing of distributions and participant vested balances for all types of distributions (including but not limited to Hardship, in-service, Required Minimum distributions and Death distributions)


• Prepare and process all participant distribution related notices


• Communicate effectively with investment companies for liquidation or transfer of assets


• Communicate effectively with terminated employees, government agencies, and outside vendors


• Effectively resolve issues relating to distributions and participant loans


• Electronic filing of 1099Rs


• Adhere to company policies and procedures, including maintaining organized files


• Meet /exceed all quality, productivity and turnaround goals


• May be required to work extra hours during peak periods


• Perform other related duties as assigned


• 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.


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Experience, Skills, Knowledge Requirements

• Understand and interpret the Plan Document of a Qualified Retirement Plan


• Knowledge of distribution rules including minimum distributions, hardship withdrawals, pre-retirement, QDRO's, Rollover, ADP refunds and taxation processing including Qualified Roth accounts.


• Understand the Taxation of distributions and participant loans


• Understand the different methods of plan asset investments such as mutual funds, brokerage accounts, pooled accounts, etc.


• Effective oral and written communication skills


• Analytical and critical-thinking skills


• Ability to work independently


• Manage multi-task workload


• Monitor deadlines and communicate status


• Timely follow-up on outstanding requests or work


• Software Skills: MS Office 2007-Excel, Word, Outlook, ASC, Relius, Nitro

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").

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