County of Alameda

Deferred Compensation Specialist (#1540)

Bargaining Unit: ACMEA - General Mgmt (R15)
$33.20-$44.46 Hourly / $2,656.00-$3,556.80 BiWeekly /
$5,754.67-$7,706.40 Monthly / $69,056.00-$92,476.80 Yearly


DESCRIPTION
Under general supervision, to provide professional-level plan administration of the county-wide 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 class of Deferred Compensation Specialist is distinguished from the next lower classification of Deferred Compensation Technician in that the incumbent of the latter class are paraprofessionals performing specific technical assignments in which they are required to have a broad-based general knowledge of defined contribution plans sufficient to provide first line guidance to eligible employees, active plan participants and retired plan participants in response to requests for information about the County's Deferred Compensation Plan. The Deferred Compensation Specialist is a single class position found only in the Treasurer-Tax Collector's Office which requires in-depth knowledge of applicable state and federal laws, IRS rules and regulations, policies and office procedures related to deferred compensation plans.

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

1. In-depth expertise to interpret 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; roll overs and other processes that could have a potential legal impact or loss of participant’s tax deferred status, if not handled timely and properly.

2. Develops and creates unique written correspondence to participants on complex issues.

3. 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.

4. Creates and maintains participant files; scans and maintains all files relating to deferred compensation, including legal opinions, correspondence, periodicals, statements, etc.

5. Communicates in writing, by telephone, email and walk-ins, with active participants, retired participants and eligible county employees, beneficiaries, alternate payees and the public on a variety of complex and sensitive issues.

6. Reviews County’s Deferred Compensation webpage to assure Plan’s webpage provides current and pertinent information. Communicate updates to each sub plan organization’s deferred compensation operations staff.

7. Maintains deferred compensation statements, newsletters and reports.

8. Attends County’s Deferred Compensation Information Seminars with outside Third Party Plan Administrator at various County locations and provides guidance to eligible employees on Plan participation; attends Health Fairs to provide Plan exposure.

9. Maintains ongoing liaison between County and Third Party Plan Administrator.

10. Determines eligibility of hardship withdrawal requests in compliance with Internal Revenue Code; discusses with Deferred Compensation Manager to make recommendations and resolve qualifying issues.

11. Reviews complex calculations for eligible three year catch-provision participants to determine correct deferral amounts in compliance with IRC requirements.

12. Acts as lead to the Deferred Compensation Technician and clerical staff, which involves assigning and scheduling work.

13. May be required to attend out-of-state educational conferences.

14. Schedules, and attends, and takes minutes for Quarterly Sub Plan meetings and Deferred Compensation Plan Ad Hoc Committee Meetings.

15. Performs such special projects such as researching information, summarizing data, evaluating alternatives, preparing narrative or statistical reports, and updating office processes.

16. Develops marketing plans and techniques to reach out to County employees who have not enrolled in the Plan.

17. Maintains confidentiality and determines appropriate release of participant data.

MINIMUM QUALIFICATIONS
Either I
Education:

A Bachelor's degree from an accredited college or university with major course work in Business or Public Administration, Accounting, Economics, Human Services or closely related field. (Additional years of education may be substituted for the required years of experience, for either pattern, on a year-for-year basis.)

And

Experience:

The equivalent of two years of full-time experience in the class of Deferred Compensation Technician, Retirement Specialist II or equivalent or higher level class in the Alameda County classified service. (Non-classified includes District Attorney’s Office, Hospital Authority, and the Consolidated Courts.)

Or II
Experience:

The equivalent of three years of full-time professional experience working in a deferred compensation unit performing tasks related to the operations of a 457(b), 401(a), or 401(k) deferred compensation plan, and one year performing payroll, benefits administration that include lead or supervision experience.

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

KNOWLEDGE AND SKILLS
Knowledge of:

• Principles of personnel and public administration
• Laws and regulations controlling County fiscal, accounting, collections, and recording operations
• Principles of banking and cashiering operations
• Generally accepted accounting and auditing standards principles and practices
• Methods of financial analysis
• Computer systems for accounting, collections and recording
• Automated remittance processing of large volume and large dollar collections
• Use of spreadsheet, word processing, and other computer applications relevant to performance of related work
• Extensive knowledge of the California Revenue and Taxation Code, California
Government Code (Treasury and Investments sections), and a working knowledge of Uniform Commercial Code

Ability to:

• Make informed decisions
• Direct the work of staff and others; adapt and lead in changing work situations
• Communicate effectively both in oral and written medium
• Problem-solving, research - be able to navigate county system, and financial documents to perform analysis and provide resolution
• Prepare analytic reports, develop procedures for various business processes
• Apply principles of accounting, personnel administration, and office management to work practices
• Plan, manage, and perform complex accounting and administrative tasks
• Ability to participate in inter-disciplinary work groups
• Use personal computer-based spreadsheet and other financial and administrative programs for making reports and correspondence
• Work with the public and other county department personnel.

CLASS SPEC HISTORY
Newspecs: 1540
DRH:cs 8/9/14
CSC Date: 10/1/14

BENEFITS

Alameda 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 different employee discount, fitness and health screening programs focused on overall well being.  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, 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

  • 11 paid holidays
  • Floating Holidays
  • Vacation and sick leave accrual
  • Vacation purchase program
  • Management Paid Leave**
  • Catastrophic Sick Leave
  • Employee Mortgage Loan Program
  • Group Auto/Home Insurance
  • 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 brief summary of the benefits offered and can be subject to change.

** Non-exempt management employees are entitled to up to three days of management paid leave. Exempt management employees are entitled to up to seven days of management paid leave.