] Office of Human Resources - Montgomery County Public Schools

OFFICE OF HUMAN RESOURCES AND DEVELOPMENT → CLASSIFICATION → FISCAL ASSISTANT V, ANALYST, DEFINED CONTRIBUTION

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Fiscal Assistant V, Analyst, Defined Contribution

MONTGOMERY COUNTY PUBLIC SCHOOLS CLASS DESCRIPTION
OFFICIAL TITLE: Fiscal Assistant V CODE: 4850 SQ/OQ: Optimal Qualified
WORKING TITLE: Fiscal Assistant V, Analyst, Defined Contribution GRADE: 22 MONTHS: 12
SUMMARY DESCRIPTION OF CLASSIFICATION: Under direction of the director of investments, the analyst assists current employees, retirees and their beneficiary with interpreting provisions of retirement defined contribution (403 (b) and 457(b)) plans, as well as in monitoring the investment menu; ensures compliance with federal and state laws and regulations; interfaces with internal departments and external administrative services provider to enable timely processing of contributions to and distributions from the plans; maintains knowledge of legacy administrative service providers to enable efficient processing of employee requests for distributions; organizes and conducts informational sessions and/or workshops/webinars on plan offering; and assists employees on defined contribution retirement plans. The analyst also performs administrative processes for retirement plans, resolves enrollment discrepancies and related activities; makes recommendations regarding policy implementation; explains retirement benefits and provides guidance to Call Center and other units of the Employee Retiree Service Center on correct procedures to process routine defined contribution benefit transactions such as leave payouts. The analyst researches, provides guidance for, and processes complex defined contribution plan questions and transactions.
MINIMUM QUALIFICATION STANDARDS
KNOWLEDGE, SKILLS, AND ABILITIES: Considerable knowledge of the administration of defined contribution benefit plans and Federal and State laws/regulations covering those plans, as well as capital markets, investment theory, and portfolio strategy. Ability to evaluate and oversee external service providers including investment managers, recordkeeper and investment consultants. Knowledge of MCPS defined benefit plans, MCPS policies, negotiated agreements and other relevant policies preferred. Demonstrated ability to counsel adults and to use the utmost discretion with confidential information. Ability to use current computer hardware and software including MS Office products. Demonstrated ability to quickly get up to speed on HRIS or other Human Capital Management systems, Fidelity Plan Sponsor Workstation website and other vendor websites used to administer plans. Strong public speaking, communication and interpersonal skills. Ability to participate in seminars, new employee orientations and retirement workshops either in-person or via webinar. Ability to take initiative and work independently and, to prioritize and/or to multi-task. Has knowledge of and meets the seven core competencies of the Supporting Services Professional Growth System (SSPGS).
EDUCATION, TRAINING, AND EXPERIENCE: Bachelor's degree from an accredited college or university required. Master's preferred. Major or substantial course work in business, accounting or a related field preferred. Minimum of three years of professional experience in public/multi-employer pension, private pension plan, benefit administration or related field preferred. Experience in Internal Revenue Service auditing work. Advanced computer skills in Microsoft Excel (spreadsheet). Intermediate computer skills in Word, Outlook, PowerPoint, Visio (charting software), and Oracle databases, such as the MCPS Business Hub.
CERTIFICATE AND LICENSE REQUIREMENTS: Possession of a valid Maryland noncommercial class C driver's license, or equivalent preferred.
PHYSICAL DEMANDS: (Special requirements such as lifting heavy objects and frequent climbing.)
SPECIAL REQUIREMENTS: (Frequent overtime or night work required, etc.) Position requires periodic night and weekend work to meet deadlines. Occasional travel to attend meetings.
OVERTIME ELIGIBLE: No

EXAMPLES OF DUTIES AND RESPONSIBILITIES:

Note: Incumbents may perform any combination of the essential functions shown below. This position description is not intended to be an exhaustive list of all duties, knowledge, or ability associated with this classification in every office, but is intended to accurately reflect the core job elements.

Reviews defined contribution retirement plans for compliance with program rules and regulations ensuring compliance with federal and state laws and regulations.

Determines eligibility for rollovers/distributions, requests and evaluates information regarding defined contribution plans and interprets and applies benefit provisions based on plan documents.

Reviews forms for completeness and accuracy and gathers relevant paperwork for employees and retirees to ensure timely processing, including interacting with administrative service providers.

Assists plan participants to resolve issues.

Serves as liaison to plan vendors in providing customer service to MCPS employees, retirees, former employees and beneficiaries.

Counsels plan participants, providing data to assist them in understanding their options.

Researches questions or discrepancies and resolves issues on behalf of plan participants and communicates results and other information as appropriate.

Informs staff of changes in defined contribution plan benefits and procedures as required.

Explains defined contribution retirement benefit plans, provisions, options, rolling over accounts from previous employers to employees and retirees, both in groups and individually, either in-person or online.

Organizes and participates in informational sessions, orientations, workshops, webinars, and benefit information programs to new and current employees, prospective retirees, retirees and family members.

Leads employees, retirees and their families through the provided resources and tools to help them make their own decisions.

Participates in development of communications pieces and materials regarding defined contribution retirement benefit programs and plans.

Serves as consultant/trainer to staff.

Participates in implementation of systems, changes to processes and procedures affecting defined benefit plans.

Reviews system data for integrity and recommends changes to policy or procedures.

Participates in the correction of data and trains other staff in data correction.

Participates in process improvement and documentation of processes.

Understands and applies principles of performance evaluation and professional growth for employees.

Assists the communication between the Defined Contribution Investment Committee, consultant, and defined contribution vendor.

Works with investment consultants to prepare materials for meetings of the Defined Contribution Investment Committee.

Analyzes large volumes of data from multiple sources and reconcile employer, plan and recordkeeper data as required.

Coordinates during IRS audits between MCPS and defined contribution vendor to provide requested documentation in electronic format to the IRS.

Collaborates with management and third parties in developing recommendations to resolve complex plan issues.

Monitors recordkeeper service level agreements for compliance.

Assists in implementing the investment policy and asset allocation and monitoring the performance of existing managers.

Contributes to special projects as needed.

Performs related duties consistent with the scope and intent of the position.
Class Established: 7/2022
Date(s) Revised:
Last Reviewed:

This description may be changed at any time.