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Distribution Specialist - Transfer Out

Company: PlanMember Financial Corporation
Location: Carpinteria
Posted on: January 13, 2022

Job Description:

Join the PlanMember Team!
PlanMember Financial Corporation is a financial services firm with a national footprint, and headquarters in Carpinteria, on the beautiful Central Coast of California. Serving the public sector for over 25 years, PlanMember has been a top ranked fee-based broker-dealer since 2004, ranked #4 in new plans added and #8 for all K-12 plans. PlanMember's unique membership model helps employees achieve their retirement goals by providing institutional-level investing solutions and delivering exceptional service and support to both employees and their employers. PlanMember's mission is to make a positive difference for our Partners, PlanMembers and Employees, every day. To accomplish this, we're looking for highly motivated candidates to join our growing team.

As our Distribution Specialist, you will have the unique responsibility for performing tasks associated with distribution of customer accounts. The responsibilities include applying IRS distribution rules, employer and third party administrator rules, PlanMember's Standard Operating Procedures and Policies to processing of customer accounts within specified service levels.

Some of the responsibilities are:
Review and process transfer out requests
Process transfer in-kind letters to outside fund companies in a timely manner, including monitoring and follow-up calls
Review and process qualified and non-qualified distribution requests including Trade Tickets
Calculate and apply the correct pro-rata advisory fees and termination fees using the fee calculator and applicable fee schedules
Enter redemption and purchase trades accurately
Ensure trades are reconciled daily and files are in good order prior to being sent to the NSCC
Review and process loan requests and issue loan documents
Review completed loan documents; set up and fund new loans
Calculate required minimum distribution (RMD) amounts for traditional IRAs
Take action on service requests and research requests, make necessary corrections and follow-up within specified service levels
Audit redemption and purchase requests processed by other Distribution Specialists
Submit daily redemption trade files to the NSCC before 5pm PST cutoff
May be responsible for secondary duties that are associated with the department, which may include:
Processing of internal transfers including redeeming and purchasing into new PlanMember accounts
Special processing such as death distributions, QDROs, hardship requests and purchase of service credits
Periodic investment set up and processing
Dollar cost averaging processing

For more information, please go to our website at

Keywords: PlanMember Financial Corporation, Santa Barbara , Distribution Specialist - Transfer Out, Professions , Carpinteria, California

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