County of Alameda

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 Deferred Compensation Specialist is a single position classification located only in the Treasurer-Tax Collector's Office.  The incumbent is responsible for providing professional level support to the Deferred Compensation Plan, including guidance to participants and members.  This class is distinguished from the lower classification of Deferred Compensation Technician in that the latter class performs specific technical assignments in which they are required to have 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.

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. 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; 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 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 (TPA).
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 the County’s Deferred Compensation webpage to assure the 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 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.
9. Maintains ongoing liaison between the County and TPA.
10. Reviews complex calculations for eligible three (3) year catch-up provision participants to determine correct deferral amounts in compliance with IRC requirements.
11. Acts as lead to the Deferred Compensation Technician and clerical staff, which involves assigning and scheduling work.
12. May be required to attend out-of-state educational conferences.
13. Schedules, attends, and takes minutes for the Quarterly Sub Plan meetings and the Deferred Compensation Plan Ad Hoc Committee Meetings.
14. Performs special projects such as researching information, summarizing data, evaluating alternatives, preparing narrative or statistical reports, and updating office processes.
15. Develops marketing plans and techniques with TPA to reach out to County employees who have not enrolled in the Plan.
16. Maintains confidentiality and determines appropriate release of participant data.

EITHER I

Education:  

A Bachelor's degree from an accredited college or university (Additional years of experience may be substituted for the required years of education on a year for year basis).  

AND  

Experience:  

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

OR II  

Education:  

A Bachelor’s degree from an accredited college or university (Additional years of experience may be substituted for the required years of education on a year for year basis).  

AND  

Experience:  

The equivalent of three (3) years of full-time 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 (1) year performing payroll, retirement benefits administration that included lead or supervision experience.

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

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 on a daily basis.
• 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 relationship with the plan’s TPA and investment advisors.

Newspecs:  1540

DRH:cs  8/9/14

CSC Date:  10/1/14

RE:sa Revised 01/26/2021

CSC Date: 3/24/2021

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

• 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
• 1^st 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.