General Duties of a Legal Assistant in Employee Benefits

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General Duties of a Legal Assistant in Employee Benefits
Prepare schedules showing maximizing employer contributions
Consult with business managers and actuaries to determine contribution and benefit Formulas
Draft notification of participation, election to participate, beneficiary designation, election out of qualified joint and survivor annuity, application for benefits and election to contribute
Draft affiliate adoption statement
Draft deferred compensation plans including non qualified executive compensations, stock option and medical reimbursement plans
Draft summary plan description
Draft amendments and restatements to plans to bring into compliance with new law and regulations
Draft qualified plan documents, trust agreement, custodial agreements, money purchase, 401(k), stock bonus, defined benefit plans and IRA plans
Submit descriptive documents to the Department of Labor
Prepare PBGC premium forms
Prepare and file annual report (5500 series and related schedules)
Prepare and file application for IRS determination letter
Draft board of directors resolutions for plan adoption, adoption of amendments, and fixing contributions
Draft promissory note and salary assignment for participant loans
Draft benefit statement
Draft summary annual report
Calculate employer contributions and forfeitures and allocate to participant accounts
Research interpretive questions on prohibited transactions and qualified and non qualified plans
Prepare summary of amendments required by new registration and assemble list of plans requiring such amendments
Develop and maintain checklists, sets of model plans, administrative documents and letters and update as new material is developed
Prepare notices to employees regarding significant changes in plan
Coordinate general notice mailings to clients about potential impact of new legal developments on plans
Draft plan amendments, quality amendments with IRS, notice to Department of Labor
Monitor progress of implementation of new plans and amendments to verify required actions occur on schedule
Terminate plans and qualify terminations with IRS and PBGC
Test plan for discrimination, top-heaviness, or Section 415 limits
Calculate benefit for terminated participant
Calculate participant's years of service for eligibility and vesting
Determine valuation adjustments and allocate to participant accounts