DESCRIPTION
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Under general supervision, provides overall plan administration oversight to the countywide Deferred Compensation Plan; develops and monitors policies and procedures; develops plan statistics and performance evaluation reports; provides technical expertise involving issues related to plan operation and the application of laws, rules, and contract provisions; serves as coordinator for sub-plans under the umbrella of the County’s plan account and performs other related duties as assigned.
DISTINGUISHING FEATURES
This single-position classification is located in the Office of the Alameda County Treasurer-Tax Collector and reports directly to the Treasurer-Tax Collector. The employee is responsible for the administration of the countywide Deferred Compensation Plan which includes the 457(b) and the 401(a) defined contribution plans. The Deferred Compensation Manager classification is also responsible for managing the day-to-day operations of the program through the supervision of professional and paraprofessional subordinate staff.
This classification is distinguished from the next lower-level classification of Deferred Compensation Specialist in that this position is responsible for overall plan administration oversight of the Countywide Deferred Compensation Plan and functions as a first-line supervisor for the plan through subordinate staff.
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EXAMPLES OF DUTIES
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NOTE: The following are the duties performed by the employee in this classification. However, the employee may perform other related duties at an equivalent level. The employee in the classification does not necessarily perform all duties listed.
- Researches, compiles, and analyzes data relating to the countywide Deferred Compensation Plan and makes recommendations on issues relating to the plan to the Treasurer-Tax Collector.
- Works with the third-party administrator (“TPA”) of the Deferred Compensation Plan to resolve issues that fall within the existing policy or that require new policies to be established.
- Reviews and evaluates monthly and quarterly reports submitted by the TPA to monitor and evaluate program administration; initiates improvements and changes as needed to ensure program objectives are met.
- Reviews all investment options, including investment products, and takes a leadership role while working with investment advisors in narrowing the selection of replacement fund options that fall out of compliance with the Deferred Compensation Plan’s investment policy.
- Advises the Treasurer-Tax Collector on the Deferred Compensation Plan’s investment policy issues; acts as the administrative staff for and presents issues and proposals related to the Investment Policy to the Deferred Compensation Plan Ad Hoc Committee.
- Develops and prepares reports and other data for communication of important issues as appropriate to the Treasurer-Tax Collector, Board of Supervisors, Internal Revenue Service (“IRS”), sub-plan organization’s operations staff, and other interested parties.
- Supervises personnel; manages performance; assigns and reviews work.
- Participates in the selection of employees; responsible for training and orientation, and performance evaluations.
- Participates in the development and preparation of bid specifications for contracts relating to the Deferred Compensation Program; evaluates proposals submitted and makes recommendations to the Treasurer-Tax Collector.
- Coordinates annual participant educational seminars and monitors marketing presentations conducted by the TPA.
- Reviews and evaluates the current level of service, as required under contracts with the TPA and investment provider.
- Reviews recommendations made by staff and each sub-plan organization’s in-house deferred compensation operations staff for hardship withdrawal requests in accordance with the Plan Document and Internal Revenue Code Sections governing deferred compensation.
- Consults with County Counsel, outside counsel, and the TPA on new legislation and regulations; develops and writes proposals.
- Coordinates quarterly sub-plan meetings and provides guidance, education, and support to each sub-plan organization’s in-house deferred compensation operations staff.
- Ensures access to reports, financial statements, contracts, and related plan documents, as appropriate, to the Legislative Audit Bureau, the County’s Auditor-Controller, the Treasurer-Tax Collector, and other interested parties.
- Attends various conferences, seminars, and webinars in order to stay informed of current best practices.
- Assists the Treasurer-Tax Collector in coordinating financial wellness programs with the Human Resource Services Department, the County Administrator’s Office Risk Management Unit, and the Alameda County Employee’s Retirement Association.
- Coordinates quarterly meetings with the Deferred Compensation Plan Ad Hoc Committee.
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MINIMUM QUALIFICATIONS
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Education:
Possession of a bachelor’s degree from an accredited college or university.
AND
EITHER I
Experience:
The equivalent of three (3) years of full-time experience in the classification of Deferred Compensation Specialist or Retirement Benefits Specialist in the County of Alameda classified services.
OR II
Experience:
The equivalent of three (3) years of full-time experience in the areas of administration of a 457(b), 401(a), or 401(k) deferred compensation plan and including one (1) year of full-time experience supervising employees, who process employee health and/or pension benefits and/or payroll.
Substitution:
Additional years of experience as in Patterns I and II above, may substitute for education on a year-for-year basis.
NOTE: The Civil Service Commission may modify the above Minimum Qualifications in the announcement of an examination.
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KNOWLEDGE AND SKILLS
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NOTE: The level and scope of the following knowledge and abilities are related to duties listed under the “Examples of Duties” section of this specification.
Knowledge of:
- State and federal laws, rules, and regulations governing defined contribution programs as authorized by IRS Code 457 Deferred Compensation Plan and 401(a) or similar tax-defined contribution plans.
- Philosophy, principles, and practices of deferred compensation programs.
- Principles and practices of public administration and supervision.
- Training methods and techniques.
- Effective techniques of interpersonal relations and program development.
Ability to:
- Develop policies and procedures.
- Implement and monitor deferred compensation programs.
- Communicate effectively, orally and in writing.
- Make presentations to individuals and groups.
- Network and negotiate.
- Learn complex regulations and legislative requirements related to deferred compensation plans and interpret them in the day-to-day operations of the plans.
- Understand investment principles, monitoring investment options, and analysis.
- Plan, organize, and direct operations for county-wide deferred compensation plans.
- Initiate and manage projects and complex change processes; develop solutions.
- Develop and maintain effective working relationships with plan participants, county officials, third-party administrators, investment advisors, sub-plan administrators, and support staff.
- Exercise independent judgment in applying and interpreting rules, regulations, legislation, and policy guidelines.
- Research, compile, and analyze information related to plan administration.
- Make decisions.
- Provide leadership.
- Exercise management control.
- Demonstrate interpersonal sensitivity.
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CLASS SPEC HISTORY
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JP:po 10/24/08
Newspecs: 1539.doc
CSC Date: 1/28/2009
DRH:cs Revised/Retitled 05/14/12
Old Title: Deferred Compensation Manager
CSC Date: 6/13/12
DRH:cs Administrative Change 7/9/13
DRH:ac Revised/Retitled 4/11/19
Old Title: Deferred Compensation and Personnel Manager
CSC Date: 5/22/19
DRH:saa Revised 2/11/25
CSC Date:04/30/25
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BENEFITS
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The County offers a comprehensive and competitive benefits package that affords wide-ranging health care options to meet the different needs of a diverse workforce and their families. We also sponsor many employee discount, fitness and health screening programs focused on overall wellbeing. These benefits include but are not limited to*:
For your Health & Well-Being
- Medical – HMO & PPO Plans
- Dental – HMO & PPO Plans
- Vision or Vision Reimbursement
- Share the Savings
- Basic Life Insurance
- Supplemental Life Insurance (with optional dependent coverage for eligible employees)
- Accidental Death and Dismemberment Insurance
- County Allowance Credit
- Flexible Spending Accounts - Health FSA, Dependent Care and Adoption Assistance
- Short-Term Disability Insurance
- Long-Term Disability Insurance
- Voluntary Benefits - Accident Insurance, Critical Illness, Long-Term Care, Hospital Indemnity and Legal Services
- Employee Assistance Program
For your Financial Future
- Retirement Plan - (Defined Benefit Pension Plan)
- Deferred Compensation Plan (457 Plan or Roth Plan)
For your Work/Life Balance
- 12 paid holidays
- Floating Holidays
- Vacation and sick leave accrual
- Vacation purchase program
- Management Paid Leave**
- Catastrophic Sick Leave
- Pet Insurance
- Commuter Benefits Program
- Guaranteed Ride Home
- Employee Wellness Program (e.g. At Work Fitness, Incentive Based Programs, Gym Membership Discounts)
- Employee Discount Program (e.g. theme parks, cell phone, etc.)
- Child Care Resources
- 1st United Services Credit Union
*Eligibility is determined by Alameda County and offerings may vary by collective bargaining agreement. This provides a summary of the benefits offered and can be subject to change.
** Non-exempt management employees are entitled to up to three (3) days of management paid leave. Exempt management employees are entitled to up to eight (8) days of management paid leave.
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