Recordkeeping Associate - Kalamazoo

Job Description

Job Description

WHO WE ARE

At Greenleaf Trust, our teams are dedicated to providing the highest level of comprehensive wealth management services, trust administration and retirement plan services. We adhere to the highest standards of fiduciary excellence while providing customized solutions and highly personal service to our clients.

SUMMARY

To support, assist in, and be responsible for recordkeeping functions on a day-to-day basis. To also assist, as needed, with participant services functions to fully understand the scope of a retirement plan. This position offers an opportunity to develop knowledge and skills needed to grow in the retirement plan industry. The Recordkeeping Associate will be responsible for learning the principal accountabilities required for the position and independently carrying them out. Additionally, there will be an opportunity to support division initiatives towards continuous improvement. The role is primarily an on-site role that may evolve over time and this individual will have the opportunity to take on increasing responsibility.

YOUR ROLE IN SERVING OUR CLIENTS AND ASSISTING DIVISIONS INCLUDES:

• Obtain a basic understanding and knowledge of:
  • Retirement plan types
  • Plan operation and administration
  • Technical requirements
  • Participant account support
• Provide administrative support & be responsible for record-keeping services:
  • Assist with & be responsible for portions of the distribution process, such as reviewing incoming requests for proper approvals, eligibility, vesting, etc.
  • Gain knowledge and understanding of distribution tax rules, death benefit payments, and RMD regulations & be able to apply those to the distribution process
  • Review incoming rollover checks for proper documentation and approvals
  • Review incoming loan payoff checks for proper amounts and handling discrepancies
  • Help with the Force-out of low balance accounts process
  • Obtain missing dates of birth / dates of hire from sponsors to ensure eligibilities are posting correctly
  • Monitor and track new participant loan repayments
  • Gain an understanding of Payroll Integration and become a technical resource for the Recordkeeping team
  • Shadow Recordkeepers during both testing and 5500 seasons to learn and understand process for future growth opportunities
  • Assist with projects as assigned
  • Assist with updating and implementing new processes
• Administrative support for participant services, as needed, may include:
  • Regular review of eligible participant enrollment statuses and initiate pro-active contacts to participants who are eligible but have not completed enrollment
  • Assist with participant services mailings and campaigns such as required notices, obtaining beneficiary designations, plan level mailings, etc.
  • Notify participants when incoming rollover funds are received
  • Assist with researching, locating, connecting with, and managing our lost participant population
  • Provide support and translation for our Spanish speaking participants as able
• Participation in designated workgroups
• All other duties and projects as assigned

MINIMUM EDUCATION / EXPERIENCE REQUIRED

• Bachelor's Degree or working towards a degree in a related field or equivalent education and basic finance and/or retirement planning knowledge or experience.
• Working knowledge of investment types and/or retirement plans desirable.
• Fluent in both English and Spanish preferred.
• Excellent customer service skills.