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Accounting & Bookkeeping Forum
Accounting, Tax, Marketing, and Bookkeeping Resource
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ca_cpa
Joined: 07 Aug 2007
Posts: 3
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| Posted: Sat Aug 11, 2007 7:11 pm Post subject: 401 K administartion |
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| Does anybody know about what are an employer's duties as a 401K administrator. I am currently looking at some job openings & some have the requirement of experience in 401K administration. Can anybody help please? |
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jcprofacct
Joined: 30 Nov 2007
Posts: 1
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| Posted: Fri Nov 30, 2007 11:58 pm Post subject: Answering the 401k Adminstrator job. |
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| :) The 401K Administrator have to keep contantly contact with the clients concerning contributions, loan setup, distributions, allocations of earnings which is preform by an recordkeeper. Maintain legal documents concerning the Plan documents. Approving invoices legal fees. Fee setup, opening/closing account. Asset transfer dealing with Mutual Funds, Stock distribution, dividends. Funds maping. Visiting clients handling any problems concerning 401k. Dealing with the OCC Auditor, Preparing 5500 Financial Statements. |
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