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General Duties of a Legal Assistant with Employee Benefits Example
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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