Senior Retirement Plan Administrator

First Bank Trust; Brookings (SD); On-site; USD 70,000 - 90,000; Full time

Job summary

First Bank & Trust is seeking a Retirement Plan Services Administrator II to provide experienced administrative, technical, and client service support for employer-sponsored retirement plans such as 401(k) and 457(b). This role will independently manage plan administration, test requirements, and data reconciliation while communicating results to sponsors and participants.

You will contribute to annual administration, participant education, and plan conversions, handling complex transactions and

Qualifications

• 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.
• Ability to independently manage multiple tasks and meet deadlines.

Responsibilities

• Independently manage plan administration and record-keeping 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 record‑keeping 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.

Skills

Analytical skills

Communication skills

Detail-oriented

Multi-tasking

Education

Bachelor’s degree

Six years of relevant experience

Tools

Retirement plan software

Job description

First Bank & Trust is seeking a Retirement Plan Services Administrator II to provide experienced administrative, technical, and client service support for employer-sponsored retirement plans such as 401(k) and 457(b). This role will independently manage plan administration, test requirements, and data reconciliation while communicating results to sponsors and participants.

You will contribute to annual administration, participant education, and plan conversions, handling complex transactions and