Retirement Plan Services Administrator

First Bank & Trust; Sioux Falls (SD); On-site; USD 60,000 - 75,000; Full time

Job summary

First Bank & Trust in Sioux Falls, SD, seeks a retirement plan administrator to manage day-to-day administration of 401(k), profit sharing, and other qualified plans for employer sponsors. You will process payroll contributions, deferrals, loans, and related transactions, ensuring accuracy and timeliness.

The role requires a bachelor’s degree with five years’ relevant experience in retirement plan administration or related fields; excellent analytical skills, attention to detail, and the ability

Job description

Job Description:This position is responsible for performing retirement plan administration and servicing activities for employer-sponsored retirement plans, including 401(k), profit sharing, pension, and other qualified plans. The role processes and reconciles plan transactions, maintains participant and plan data, supports compliance and annual administration processes, responds to participant and plan sponsor inquiries, and helps ensure plan activity is accurate, timely, and administered in accordance with plan documents, internal procedures, and applicable IRS, DOL, and ERISA requirements.Qualifications: This person should have a bachelor’s degree and five years of relevant experience, or the equivalent. Experience in retirement plan administration, trust operations, payroll, accounting, or banking is preferred. Strong analytical skills, accuracy, and attention to detail are required. Must be able to manage multiple priorities, meet deadlines, apply regulatory and plan document requirements, and communicate professionally with plan sponsors, participants, internal partners, and external service providers.Principal Responsibilities:Process payroll contribution files, participant deferrals, employer contributions, loan payments, and related plan transactions accurately and timely.Reconcile contributions, distributions, forfeitures, earnings, and plan-level balances between trust accounting and recordkeeping systems; research and resolve discrepancies.Support distribution, loan, rollover, and hardship withdrawal processing.Administer participant and plan data, including demographic information, enrollment records, investment elections, beneficiary information, and other plan-related records.Respond to and resolve participant and plan sponsor questions.Prepare and review participant statements, plan reports, census data, and other materials used in annual administration, reporting, and compliance processes.Support compliance testing, Form 5500 preparation, and annual reporting processes by gathering, validating, and organizing required data.Apply procedures related to IRS, DOL, ERISA, plan documents, and internal compliance requirements.Maintain working knowledge of retirement plan systems, operations, procedures, and applicable regulatory requirements.Maintain accurate documentation and follow internal policies, procedures, and service standards.Act in accordance with FBT policies and procedures as set forth in the employee handbook.Adhere to compliance procedures and participate in required compliance and educational training.Compensation GradeSalary Grade 5First Bank & Trust is an Equal Opportunity, Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity or expression, national origin, disability, or status as a protected veteran. Read our complete Equal Employment Opportunity Policy Statement. Applicants who would like to request reasonable accommodation to the application or interview process should call Human Resources at 800.843.1552 or email [e-mail].