County of Alameda

Deferred Compensation Specialist (#1540)

Bargaining Unit: ACMEA - General Mgmt (R15)
$44.06-$56.23 Hourly / $3,524.80-$4,498.40 BiWeekly /
$7,637.07-$9,746.53 Monthly / $91,644.80-$116,958.40 Yearly

Notify Me when a Job Opens for the above position(s)

DESCRIPTION

Under general supervision, to provide professional-level plan administration of the countywide defined contribution plans, the 457(b) Deferred Compensation Plan and the 401(a) Employee Retirement Plan; provide knowledgeable guidance, plan information and ongoing assistance to plan participants, retired participants, eligible employees, beneficiaries, alternate payees and sub-plan organization’s operations staff; process a variety of complex deferred compensation documents subject to state and federal regulations and guidelines; and to perform other related duties as required.

DISTINGUISHING FEATURES

The Deferred Compensation Specialist is a single position classification located only in the Alameda County Treasurer-Tax Collector. The employee is responsible for providing professional-level support to the Deferred Compensation Plan, including guidance to participants and members, and reports to the Deferred Compensation Program Manager who has oversight of the countywide program.

Deferred Compensation Specialist are distinguished from the lower level classification of Deferred Compensation Technician in that the latter performs specific technical paraprofessional duties in which they are required to have broad-based general knowledge of defined contribution plans sufficient to provide initial guidance to eligible employees, active plan participants, and retired plan participants in response to requests for information about the County of Alameda’s (County) Deferred Compensation Plan.

EXAMPLES OF DUTIES

NOTE: The following are the duties performed by the employees in this classification. However, the employees may perform other related duties at an equivalent level. Each employee in the classification does not necessarily perform all duties listed.

Interprets laws, rules, policies, and procedures in areas including but not limited to 457(b) age 50 catch-up; military leaves; hardship withdrawals and appeals; joinders/qualified domestic relations orders; beneficiary updates; purchase of service credits; rollovers and other processes that could have a potential legal impact or loss of participant’s tax-deferred status, if not handled timely and properly.
Develops and creates written correspondence to participants on complex issues.
Maintains relevant internal controls relating to participant transactions and other overall plan transactions and activities that are not automatically flagged systematically by the Third-Party Administrator (“TPA”).
Creates and maintains participant files; scans and maintains all files relating to deferred compensation, including legal opinions, correspondence, periodicals, statements, etc.
Communicates in writing, by telephone, email, and walk-ins with active participants, retired participants, eligible county employees, beneficiaries, alternate payees, and the public on a variety of complex and sensitive issues.
Reviews the County’s Deferred Compensation webpage to ensure the plan’s webpage provides current and pertinent information. Communicates updates to each sub-plan organization’s Deferred Compensation operations staff.
Maintains deferred compensation statements, newsletters, and reports.
Attends the County’s Deferred Compensation information seminars with outside TPA at various County locations and provides guidance to eligible employees on plan participation; attends health fairs to provide plan exposure.
Maintains ongoing liaison between the County and TPA.
Reviews complex calculations for eligible three (3) year catch-up provision participants to determine correct deferral amounts in compliance with IRC requirements.
May direct and review the work of others on a project or day-to-day basis”.
May be required to attend out-of-state educational conferences.
Schedules, attends, and takes minutes for the Quarterly Sub Plan meetings and the Deferred Compensation Plan Ad Hoc Committee Meetings.
Performs special projects such as researching information, summarizing data, evaluating alternatives, preparing narrative or statistical reports, and updating office processes.
Develops marketing plans and techniques with TPA to reach out to County employees who have not enrolled in the Plan.
Maintains confidentiality and determines the appropriate release of participant data.

MINIMUM QUALIFICATIONS

EITHER I

Education:

A bachelor's degree from an accredited college or university.

AND

Experience:

The equivalent of two (2) years of full-time experience in the classification of Deferred Compensation Technician, Retirement Technician, or in an equivalent or higher-level classification in the County of Alameda classified service.

OR II

Experience:

The equivalent of three (3) years of full-time experience performing payroll or benefits administration work, that includes performing statistical accounting or fiscal work.

Substitution:

Additional years of experience in patterns I and II may substitute for the required years of education on a year-for-year basis.

NOTE: The Civil Service Commission may modify the above Minimum Qualifications in the announcement of an examination.

KNOWLEDGE AND SKILLS

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 and regulations governing the defined contribution plans.
1937 Act County Employees Retirement Law.
Practices and techniques of administrative analysis and report presentation.
Financial record-keeping techniques.
Complex mathematical functions and computations.
Spreadsheet, computer applications, and data entry skills.
Business communications.
Correct usage of English, including punctuation, spelling, and grammar.
Effective customer service techniques.

Ability to:

Handle multiple tasks and prioritize work.
Possess excellent oral and written communication skills.
Read, comprehend, interpret, and apply laws, rules, regulations, policies, and procedures.
Independently analyze complex records and situations and make timely, accurate decisions.
Elicit required participant information to ensure proper adherence to established policies and procedures.
Provide accurate guidance to participants and resolve disputes, perform complex mathematical calculations.
Establish working relationships with other County department staff.
Maintain professional relationships with the plan’s TPA and investment advisors.

CLASS SPEC HISTORY

Newspecs: 1540

DRH:cs 8/9/14

CSC Date: 10/1/14

RE:sa Revised 01/26/2021

CSC Date: 3/24/2021

DRH:saa Revised 02/11/25

CSC Date:4/30/25

BENEFITS

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.