401(K)/S125 Conversions Specialist

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Responsible for the timely and accurate conversion of plans to Paychex. Provides client service and support to our internal and external partners; ensures timely and accurate problem resolution.

  • Contacts plan trustees of lower to medium complexity conversions. Reviews plan elections specified at point of sale, makes any necessary changes, and validates client 401(k) and S125 plan elections in the recordkeeping system with client to ensure accurate plan setup.
  • Processes new participant enrollments and calculates existing participant enrollment through review of prior plan information. Emails all participant deduction information to the plan contact for review prior to the first payroll with 401(k) to ensure accuracy.
  • Resolves system alerts to ensure that an error free interface exists between the client facing systems and the recordkeeping system.
  • Verifies that the first payroll for the clients runs accurately. Communicates to clients, branch or hub personnel and/or HRS sales, and performs system setup changes to ensure all parties involved are aware of the situation and that all issues are corrected to ensure that an accurate next payroll is attained.
  • Performs follow up with clients and prior record keepers to liquidate assets from prior administrator and retrieves a plan valuation on the plan assets received.
  • Utilizes plan valuation to prepare an asset allocation report outlining participant contribution source detail and investment selection detail on the plan assets. Provides the asset allocation report to the plan contact and follows up to receive signed validation to ensure compliance with company policies and procedures.
  • Initiates trading of plan assets received from prior record keepers to ensure accurate and timely trading.
  • Answers conversion inquiries from clients, sales, field operations, brokers, prior record keepers and other 401(k) personnel to ensure all issues are resolved.
  • Evaluates daily processes and procedures in order to suggest improvements to improve client satisfaction and to provide efficiency gains.
  • H.S. Diploma.
  • 4 years of experience in Consideration may be given to a candidate with a degree in lieu of experience.
Locations: NY, West Henrietta, Rochester University Park Office
Full Time / Part Time: Full-Time
Category: Customer Service/Operations
Requisition #: CUS-18-00007-01
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Paychex, Inc. (NASDAQ: PAYX) is a leading provider of integrated human capital management solutions for payroll, HR, retirement, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by more than 40 years of industry expertise, Paychex serves approximately 590,000 payroll clients across 100 locations and pays one out of every 15 American private sector employees. Learn more about Paychex by visiting www.paychex.com, and stay connected on Twitter and LinkedIn.