What are the responsibilities and job description for the Retirement Distribution Processor position at Alerus?
Description
WHO ARE WE : Alerus is a commercial wealth bank and national retirement provider with one core purpose : helping clients achieve their financial goals. We are driven by a shared commitment to always do the right thing; leading with integrity and providing valued advice and guidance to our clients. We value the expertise and skillsets each team member provides and encourage collaboration, innovation, adaptability, and an entrepreneurial spirit at all levels of our company. By consistently seeking improvements and growth, we foster long-term relationships with clients and team members. We are proud to be recognized as a Top Workplace by numerous industry and regional outlets.
CORE VALUES : Passion for Excellence : : Success is Never Final : : Do the Right Thing : : One Alerus
ABOUT THE ROLE :
The Retirement Distribution Processor is accurate and timely processing of employee benefit plan transactions, distributions, and loans according to documents and internal procedures under limited supervision. This person will process plan mergers, plan to plan transfers, loan refinances and answer client and Alerus Retirement and Benefits (ARB) staff questions. Will exhibit a strong attention to detail, will be responsible for understanding all aspects of the distribution / loan area, and be able to work in a fast-paced environment quickly and accurately.
WHAT YOU'LL BE DOING :
- Process all types of distributions and loans, including lump sums, in-service withdrawals, QDROs, testing refunds, hardships, stock, installments, and Roth.
- Ensure daily processing of distributions and loan withdrawals meets quality and service standards.
- Monitor client-specific notes in the recordkeeping system affecting withdrawals and loans.
- Research and respond to distribution / loan issues according to plan procedures and standards.
- Update the ARB tracking system with the status of distribution and loan requests.
- Enter 1099R data for requested withdrawals.
- Process plan-to-plan transfer requests and loan refinancing requests.
- Calculate and verify vesting and forfeitures.
- Maintain documentation of functions, checklists, and procedures in the R&R database.
- Assist team members and handle special projects as needed.
WHAT YOU SHOULD HAVE :
WHAT WE BRING TO THE TABLE :
WORK ENVIRONMENT : Work is typically performed in an office setting. The employee is regularly required to sit for extended periods of time. The employee is occasionally required to move about the office utilizing proper ergonomic safeguards when doing so. Additionally, the employee must occasionally lift or move supplies and materials up to 20 pounds.
BASE PAY RANGE :
18.00 - $20.00 per hour
The above information in this description has been designed to indicate the general nature and level of work performed by employees in this position. It is not designed to contain or be interpreted as an exhaustive list of all responsibilities, duties, and qualifications required of employees assigned to this job.
Alerus is an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
Equal Opportunity Employer / Protected Veterans / Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
Salary : $18 - $20
