Brokerage Distributions Administrator

Job Description

Job Description

Base salaries are determined during our interview process, by assessing a candidate’s experience, skills against internal peers and against the scope and responsibilities of the position.

Reports to : AVP, TPA Operations

Job Summary : The Brokerage Distributions Administrator is responsible for managing and processing all types of retirement plan distributions from brokerage accounts for both 401(k) and Defined Benefit plans. This role requires a high level of accuracy, organization, and professionalism, as many transactions can take several weeks to complete. A critical aspect of this position involves ensuring that the TPA’s master account is maintained and reconciled. The administrator will also coordinate closely with internal departments, plan sponsors, custodians, and participants to ensure distributions are following plan provisions and regulatory requirements. This position requires a proactive, flexible team player with strong communication skills and the ability to manage multiple priorities in a fast-paced environment. While primary duties are focused on the brokerage accounts, responsibilities may vary based on business needs, and team members are expected to pitch in and support other operational tasks when needed.

Key Responsibilities :

• Manage all the processing of all distribution requests from brokerage accounts for both 401(k) and Defined Benefit plans. This includes termination, rollovers, in-service withdrawals, required minimum distributions (RMDs), and other participant transactions.
• Ensure accuracy and compliance with plan documents and applicable regulations.
• Track, manage, and coordinate the timely completion of distributions.
• Maintain ongoing reconciliation of the master account to ensure all participant distributions, cash movements, and fee transactions are accurately recorded and accounted for.
• Monitor and track TPA fees processed through PenChecks and ensure reimbursement to the TPS is timely and accurate.
• Research and resolve any discrepancies in cash movements, participant balances, or reconciliation differences in a timely manner.
• Review distribution request forms and supporting documentation for accuracy and completeness before processing.
• Ensure proper tax withholding is applied and maintain audit-ready documentation for all transactions.
• Work closely with internal teams, including client services, finance and custodians to ensure smooth processing.
• Collaborate with external partis (brokerage, custodians, plan sponsors, advisors) to resolve issues and ensure documentation is received.
• Address inquiries and provide professional and timely communication to internal teams, clients and plan participants regarding the status of their distribution requests.
• Maintain a high level of client service and professionalism in all interactions.
• Learn to utilize various retirement plan platforms and brokerage systems to process distributions, ensuring transactions are accurately recorded and tracked.
• Participate in cross-department initiatives to streamline workflows and improve processes.
• Identify areas to improv accuracy, reduce turnaround time, and enhance client experience in the distribution workflow.

Requirements :