Job Overview:
The 401(k) Specialist serves as a subject matter expert in employer-sponsored retirement plan services, with a dual focus on investment management solutions and insurance products. This role is responsible for the full lifecycle of 401(k) plan administration — from onboarding and compliance monitoring to investment menu design and participant engagement. The ideal candidate combines deep technical knowledge of ERISA regulations with a client-first mindset and a passion for helping organizations and employees build long-term financial security.
Key Responsibilities:
Plan Administration
- Manage end-to-end administration of 401(k) and related defined contribution plans, including plan setup, amendments, and annual reviews.
- Oversee contribution processing, vesting calculations, loan administration, and required minimum distributions (RMDs).
- Coordinate plan document updates and ensure alignment with current IRS and DOL regulations.
- Prepare and review annual plan testing (ADP/ACP, top-heavy, coverage) and partner with TPAs and auditors to resolve discrepancies.
Investment Solutions
- Evaluate and recommend investment menu options including mutual funds, collective investment trusts (CITs), target-date funds, and managed accounts.
- Monitor fund performance, expense ratios, and benchmarking data; present findings to plan sponsors and investment committees.
- Serve as a fiduciary resource, supporting plan sponsors in fulfilling their ERISA Section 404(c) obligations.
- Collaborate with portfolio managers and fund companies to conduct due diligence and annual investment policy statement (IPS) reviews.
Insurance Solutions
- Identify and position insurance products within retirement plans, including stable value funds, guaranteed income annuities, and group variable annuity wrappers.
- Partner with insurance carriers to evaluate product suitability, crediting rate competitiveness, and contract terms for plan sponsors.
- Support plan sponsors in implementing in-plan guaranteed lifetime income solutions as part of a comprehensive retirement readiness strategy.
- Maintain current knowledge of regulatory changes impacting insurance products within qualified plans (e.g., SECURE 2.0 provisions).
Compliance and Regulatory Affairs
- Monitor plan compliance with ERISA, IRS, and DOL requirements; coordinate corrective actions through VCP or EPCRS when needed.
- Prepare and file Form 5500 series returns in partnership with plan auditors and TPAs.
- Track legislative and regulatory developments affecting qualified plans and proactively advise clients on required amendments.
Client Relationship Management
- Serve as the primary point of contact for a portfolio of plan sponsor clients, delivering proactive service and strategic guidance.
- Conduct quarterly and annual plan reviews, presenting data on participation rates, deferral trends, and investment performance.
- Develop and deliver participant education materials and enrollment campaigns to drive plan utilization and retirement readiness.
- Collaborate with sales and relationship management teams on plan conversions, RFP responses, and new business opportunities.
Required Qualifications:
- Bachelor’s degree in Finance, Business Administration, Economics, or a related field.
- 3–5+ years of experience in 401(k) plan administration, retirement plan consulting, or a related financial services role.
- Strong working knowledge of ERISA, IRS qualification rules, DOL regulations, and plan testing requirements.
- Demonstrated experience with investment analysis, fund evaluation, and fiduciary best practices.
- Familiarity with insurance products used in qualified retirement plans, including stable value and annuity solutions.
- Proficiency with retirement plan recordkeeping platforms (e.g., Empower, Fidelity, Voya, Principal, or similar).
- Excellent communication and presentation skills with the ability to simplify complex topics for diverse audiences.
Preferred Qualifications:
- FINRA Series 6 or 65 license (or willingness to obtain).
- Experience with SECURE Act 2.0 implementation and in-plan retirement income products.
- Prior experience in a TPA, recordkeeper, broker-dealer, or RIA environment.
Compensation & Benefits:
We offer a competitive compensation package commensurate with experience, including:
- Base salary range: $70,000 – $100,000 annually (depending on experience and credentials)
- Performance-based bonus eligibility
- Comprehensive health, dental, and vision insurance
- 401(k) plan with company match
- Paid professional development and licensing support
- Generous PTO and flexible work arrangements
Equal Opportunity Employer:
We are an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, or veteran status.
Pay: $70,000.00 - $100,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Health insurance
- Paid time off
- Professional development assistance
- Vision insurance
Work Location: Hybrid remote in New York, NY 10004
