Trust Administrator I / II - 401(k), Profit Sharing & Money Purchase

About the role

Prime Pensions, Inc. is a well-established retirement plan administration and actuarial firm specializing in 401(k), profit sharing, defined benefit, and other qualified retirement plans for employers across the United States. Since 1975, Prime Pensions has provided customized retirement plan solutions with an emphasis on technical expertise, accuracy, and personalized service. Our team supports a wide variety of plan designs and investment arrangements while maintaining comprehensive oversight and quality standards throughout the administration process. Prime Pensions has been recognized as a leading defined contribution plan administrator and as one of NJBIZ's Best Places to Work in New Jersey.

The Trust Administrator I / II is responsible for the financial reconciliation and trust accounting functions associated with qualified retirement plans. This position reconciles plan assets and financial activity, prepares financial statements and participant allocation reports, supports annual Form 5500 reporting, and identifies discrepancies or issues requiring additional review. The level at which a candidate is hired will be based on relevant retirement plan, trust accounting, bookkeeping, or financial reconciliation experience, as well as demonstrated technical knowledge and ability to independently manage assigned work.

Responsibilities

• Reconcile retirement plan trust accounts, investment statements, contribution activity, distributions, and other financial records.
• Analyze financial activity to identify discrepancies, outstanding items, or reconciliation issues requiring additional research.
• Prepare retirement plan financial statements and supporting schedules, including applicable stock and investment schedules.
• Reconcile beginning and ending plan assets and activity for annual reporting purposes.
• Prepare gain and loss allocation statements and allocate applicable investment earnings or losses in accordance with established procedures.
• Review financial information for completeness, consistency, and accuracy.
• Research reconciliation discrepancies and develop accurate, well-supported solutions.
• Document outstanding items and communicate necessary follow-up information to Consultants and other internal team members.
• Prepare financial information and supporting schedules required for annual retirement plan reporting.
• Process applicable government reporting forms associated with the Form 5500 reporting process.
• Prepare and process EFAST2 submissions in accordance with applicable procedures and deadlines.
• Analyze plan distribution notices and related trust activity.
• Review plan documents to determine the appropriate