Plan Compliance Specialist
Lincoln Financial Group - Fort Wayne, IN

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As a Plan Compliance Specialist you are accountable for preparing nondiscrimination testing, IRS Form 5500 filing, and employer and forfeiture contribution allocations for various types of employer sponsored retirement plans, which includes 401(a), 403(b), and 457(b). The Plan Compliance Specialist manages the annual plan compliance process to ensure that the plan administration of full serviced plans remains compliant to the plan document and that the employer is following the generally acceptable compliance rules outlined by the Internal Revenue Service (IRS), Department of Labor (DOL), and Employee Retirement Income Services Act (ERISA). The Specialist serves as a technical resource for customers, distribution partners, Lincoln Financial Group associates, and other business partners to provide services, communication, regulatory interpretation, and issue resolution related to plan compliance


  • Manage the annual compliance process performing plan nondiscrimination testing, IRS Form 5500 filings including Form 5558 extensions if necessary), and employer and forfeiture allocation of contribution ensuring compliance with guidelines set by ERISA, IRS, and DOL.
  • Independently analyze and manipulate employer data to accurately perform various nondiscrimination tests such as 416 Top Heavy, 410(b) Coverage, Excess Annual Additions or 415(c), Excess Deferral or 402(g), Average Deferral Percentage (ADP) or 401(k), Actual Contribution Percentage (ACP) or 401(m), and 401(a)(4)
  • General Nondiscrimination Testing to ensure that all plans are in accordance with all regulations.
  • Prepare signature ready IRS Form 5500 and supporting schedules and Summary Annual Reports.
  • Interprets individually designed and prototype plan documents to ensure continual compliance with legal interpretation and ramifications of continually changing Federal tax laws and regulations.
Technical Learning
  • Maintains a thorough understanding of plan document provisions, specifying testing techniques and/or testing correction methods versus generally available plan testing alternatives as prescribed by the IRS.
  • Serve as a technical resource for customers, distribution partners, LFG associates, and other business partners for plan design as it relates to nondiscrimination testing, plan compliance, and problem resolution.
  • Process final services for plan and service terminations within timeframes mandated by regulatory guidelines.
  • Evaluate and/or modify existing procedures as needed to increase customer satisfaction and team effectiveness.
Time Management
  • Coordinates corrective distribution processing with other operational areas.
  • Responds to auditors ’ requests for information.
  • Prepare contribution illustrations for existing plans wanting to change their plan design.
  • Initiate or respond to client requests regarding the nondiscrimination testing and IRS Form 5500 process.
  • Meet established turnaround times and IRS and DOL deadlines to avoid financial penalties.
  • Partners with Plan Document Team by reviewing plan document designs, providing feedback regarding impact of design on plan testing, recommending plan design alternatives and subsequent amendment language for plan documents.
  • Ensures all functions are completed within specified servicing standards and updates made to tracking database.
  • Assures that the plan administration and other related responsibilities for assigned cases are performed accurately, professionally and on a timely basis in accordance with applicable governmental regulations, client objectives, and LFG guidelines.
  • Provide training and support to team members. Serve as a mentor to enhance the knowledge of team members. May train and mentor producers, plan administrators, and other areas as well.
  • Undergraduate degree or 4+ years of comparable work experience; educational concentration in Business, Finance, or Accounting is preferred
  • American Society of Pension Professionals and Actuaries (ASPPA) Certification (QKA, QPA, or CPC) is highly desirable
  • 4-6 years of related experience in Financial Services.
  • Demonstrated knowledge of retirement plans as may be gained by 5 years related experience.
  • Prefer experience in pension plans and/or pension investment products.
  • Demonstrated experience using ASC Administration Software and Relius Government Forms.
  • Expertise in defined contribution plans as could be gained by prior experience in a recordkeeping or consulting environment.
  • Familiarity with systems and/or software used for testing and government form preparation. Demonstrated PC literacy and ability to maneuver within multiple systems and applications.
  • Knowledge of Employer Markets products and procedures.
  • Knowledge of laws and regulations related to qualified plans and plan design.
  • Interpersonal skills, including conflict resolution, relationship building, and negotiation.
  • Oral and written communication ability, problem solving and research skills.
  • Strong organizational and time management skills.
  • Must be willing to work frequent and significant extra time during high volume periods.

About this company
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Lincoln Financial Group is a diversified financial services organization headquartered in the Philadelphia region. With $150 billion as of...