Retirement Plan Officer​/Consultant

Position Title: Retirement Plan Officer/Consultant

Locations:

Time Type: Full time

Req : JR1322
- At Midland, we're proud to be a little different. You can see it in our bright orange signs-but there's more to it than that. With our heartfelt and personalized approach, we're focused on meeting every customer's needs with the brightest solutions.

For more than 140 years, we've learned by serving customers skillfully with dedication and follow-through, we can brighten every interaction to drive our collective success. And this goes beyond traditional banking.

We foster programs that empower our communities, continuously invest in our employees, and actively pursue brighter futures for all.

Our humble ambition keeps us growing, giving back, and looking ahead. We're innovating and optimizing our services to ensure we stay unique - providing strength you can count on with heart you can feel.

You might say we're unlike any other bank.

And you'd be right."

At Midland States Bank, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience. This position offers additional compensation in the form of short-term incentives (i.e. bonus and/or commission) and may include long-term incentives (i.e. stock awards). Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off.

Total Rewards also include banking perks, an Employee Stock Purchase Plan, 401K plan with company match and may include the opportunity to participate in our Non-Qualified Deferred Compensation plan. Incentives and benefits are subject to eligibility requirements.

Retirement Plan Officer/Consultant

Salary Range: $89,950 - $119,950+ annually

Position Summary

Develops and manages qualified and non-qualified retirement plans (401(k), 403(b), 457, profit sharing, deferred compensation, top hat, and defined benefit) established by employers by interacting with employers through correspondence, face-to-face and virtual meetings, and employer's centers of influence (attorneys, accountants, consultants, and advisors). Service management includes, but is not limited to, ensuring that employers complete all IRS and DOL documents and amendments.

Ensures delivery of services and communications to plan sponsors, trustees, administrators, and participants. Responsible for pursuing, developing, and growing assigned retirement plan book of business assets under management through additional retirement plan and rollover opportunities and responsible to identify new business opportunities for other bank departments from the assigned book of business to make referrals to the appropriate department(s).

Primary Accountabilities

• Services a diverse book of retirement plan accounts that consists mostly of accounts ranging from start-up plans to mid-tier level accounts ($1 million - $6 million) with some large-tier level accounts ($7 million plus).
• Manages the employer relationship regarding the retirement account.
• Communicates with Retirement Plan Administrator II, Retirement Plan Enrollment/Education Specialist, and Retirement Plan Administrator I to understand and be aware of items that these individuals are working on in servicing the account as far as day-to-day administration and employee education.
• Periodically reviews account fee schedules using Retirement Plan Services Pricing Model to determine the appropriate fee schedule for accounts that results in a profitable relationship for the client and the Bank.
• Works with the client, Midland Investment Management Group and/or the assigned Portfolio Manager to select the appropriate investment line-up from the approved investment list prepared by Midland and conduct periodic fund analysis and performance reviews with the client.
• Uses technical, compliance and plan knowledge to solve plan issues and communicate resolutions to clients.
• Keeps updated on all changes in the law under ERISA, the Internal Revenue Code, DOL regulations and all other applicable federal regulations that affect the administration of retirement plans for the…