Retirement Plan Services Administrator II

First Bank Trust; Sioux Falls (SD); On-site; USD 65,000 - 90,000; Full time

Benefits offered by this job

Equal Opportunity Employer

Job summary

First Bank & Trust is seeking a Retirement Plan Services Administrator II to provide experienced administrative, technical, and client service support for routine to moderately complex employer-sponsored retirement plans, including 401(k), 457(b), pension, and profit-sharing plans.

This role independently handles plan administration, resolves recordkeeping discrepancies, communicates with sponsors and participants, and supports annual administration, participant education, and plan conversions.

Qualifications

• Bachelor's degree and six years of relevant experience.
• Experience in retirement plan administration, trust operations, payroll, accounting, or banking.
• Strong analytical skills, accuracy, attention to detail, and excellent communication.
• Ability to manage multiple tasks, meet deadlines, and resolve routine problems.

Responsibilities

• Independently manage plan administration and recordkeeping for assigned retirement plans.
• Process payroll contribution files, deferrals, employer contributions, loans, and related transactions.
• Reconcile contributions, distributions, forfeitures, earnings, and plan balances between systems.
• Serve as a point of contact for participant loans, distributions, hardship requests, and rollovers.
• Administer participant and plan data, enrollment records, elections, and beneficiary information.
• Perform and review compliance testing (ADP/ACP, top-heavy, deferral limits, etc.).
• Identify testing failures, data inconsistencies, and recommend corrective action.
• Support Form 5500 preparation and annual reporting with data gathering.
• Maintain knowledge of ERISA, IRS, and DOL requirements for qualified plans.
• Provide backup support and training to junior administrators.

Skills

Analytical thinking

Attention to detail

Effective communication

Plan administration

Recordkeeping

Problem solving

Education

Bachelor's degree

Job description

Job Description:The Retirement Plan Services Administrator II provides experienced administrative, technical, and client service support for routine to moderately complex employer-sponsored retirement plans, including 401(k), 457(b), pension, and profit-sharing plans. This person independently handles plan administration responsibilities, identifies and resolves recordkeeping discrepancies, communicates effectively with plan sponsors and participants, and supports annual administration, participant education, and plan conversion activities. This person also performs and analyzes all required testing and communicates results to client and internal parties.Qualifications: This person should have a bachelor’s degree and six years of relevant experience, or the equivalent. Experience in retirement plan administration, trust operations, payroll, accounting, or banking is required. Strong analytical skills, accuracy, attention to detail, and excellent communication skills are required. This person must be able to independently manage multiple tasks, meet deadlines, and solve routine to moderately complex problems. Strong technical knowledge of retirement plan operations, including contribution processing, recordkeeping, reconciliation, compliance testing, and participant transaction support, is necessary. Ability to interpret plan documents and adoption agreements and apply that information to plan administration responsibilities is also necessary.Principal Responsibilities:Independently manage plan administration and recordkeeping responsibilities for assigned retirement plans.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.Serve as a point of contact for participant loans, distributions, hardships, rollovers, beneficiary updates, and related transaction processing.Administer participant and plan data, including demographic information, enrollment records, investment elections, beneficiary information, and other plan-related records.Communicate directly with plan sponsors regarding data submission, web tools, enrollment processes, census data, contribution files, testing results, reporting deadlines, and participant-level issues.Perform and review compliance testing, including ADP/ACP, top-heavy, coverage, deferral limits, contribution limits, and other plan-level testing as applicable.Identify testing failures, operational issues, contribution discrepancies, and data inconsistencies, and recommend corrective action.Support compliance testing, Form 5500 preparation, and annual reporting processes by gathering, validating, and organizing required data.Demonstrate working knowledge of ERISA, IRS, and DOL requirements related to qualified retirement plans.Provide backup support and informal training to entry-level administrators or support staff.Maintain working knowledge of retirement plan systems, operations, procedures, and applicable regulatory requirements.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].