Retirement Plan Services Specialist - Compliance & Operations

First Bank & Trust; Brookings (SD); On-site; USD 65,000 - 85,000; Full time

Job summary

First Bank & Trust is seeking a Retirement Plan Services Specialist to support Pension, 401(k), 457(b), and Profit-Sharing Plans. The role handles participant records, deferrals, and plan sponsor inquiries while ensuring accurate processing and regulatory compliance.

Responsibilities include managing trust and recordkeeping systems, testing for IRS/ERISA compliance, preparing required tax forms, and communicating results to clients and internal teams.

Qualifications

• Bachelor’s degree in business administration, finance, or accounting; five years of trust or accounting experience.
• Good written and oral communication skills.
• Optional formal computer science training recommended.

Responsibilities

• Establish and maintain employee benefit plans on the participant recordkeeping system.
• Input employee deferrals and verify deposits; place mutual fund trades and settle.
• Handle participant and plan sponsor calls for distributions, withdrawals, loans, and rollovers; process transactions.
• Export prices from trust accounting and import to the recordkeeping system; balance funds by plan and system.

Skills

Communication skills

Education

Bachelor’s degree in business administration, finance, or accounting

Formal computer science training (optional)

Tools

Relius retirement system

Recordkeeping system

Job description

First Bank & Trust is seeking a Retirement Plan Services Specialist to support Pension, 401(k), 457(b), and Profit-Sharing Plans. The role handles participant records, deferrals, and plan sponsor inquiries while ensuring accurate processing and regulatory compliance.

Responsibilities include managing trust and recordkeeping systems, testing for IRS/ERISA compliance, preparing required tax forms, and communicating results to clients and internal teams.