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State of Massachusetts Defined Plans Counsel / Compliance Officer in Boston, Massachusetts

Massachusetts Defined Contribution Plans Department: The Massachusetts Defined Contribution Plans Department within the Office of the State Treasurer and Receiver General oversees the Commonwealth of Massachusetts Employees Deferred Compensation Plan ("SMART Plan") and the Massachusetts Defined Contribution CORE Plan ("CORE Plan"). SMART Plan The SMART Plan is a qualified §457(b) governmental defined contribution plan available to all state and participating municipal employees to help compliment their defined benefit pension benefits. The SMART Plan has over $12 billion in assets under management with over 111,000 full-time participants. CORE Plan The CORE Plan is a multiple employer §401(k) plan available to Massachusetts nonprofit employers with twenty or fewer employees. The CORE Plan currently has over $11 million in assets under management with 110 participating employers. PURPOSE OF THE POSITION Provide legal advice to the Defined Contributions Plans Department (“Department”) on the interpretation of applicable federal and state laws, regulations, and case law; contract negotiation and/or interpretation; and internal policy and procedure development. Monitor policy and controls implementation to ensure compliance is maintained. Works directly with the Executive Director and other members of the team on compliance matters and interacts regularly with plan record keepers and contracted vendors. ESSENTIAL FUNCTIONS AND RESPONSIBILITIES · Review and monitor proposed and existing federal and state legislation implicating the §457(b) SMART and §401(k) CORE plans. · Provide legal counsel to the Department on all matters relevant to operation and management of defined contribution plans, inclusive of the SMART Plan and the CORE Plan. · Evaluate and advise on the implementation and administration of ERISA, DOL and IRS regulations and related components of the retirement programs. · Participate in the development and promulgation of Department policy, regulations and interpretative materials for the SMART Plan and the CORE Plan. · Provide day-to-day advice, direction and education on processes and controls to ensure compliance with ERISA, DOL and IRS rules relating to the SMART Plan and the CORE Plan. · Partner with Operations and client facing teams to design processes and controls to ensure applicable reporting and disclosure requirements are met, including plan sponsor and participant required disclosures. · Review and assist in the successful execution of ongoing and annual CORE Plan compliance tasks such as quarterly plan compliance audits and form 5500 preparation and filing in conjunction with DC Plans Director of Operations, recordkeeper and §3(16) administrator. · Participate in procurement activities as required, including negotiation of investment management contracts for the SMART Plan and the CORE Plan. · Assist in monitoring of the SMART Plan and the CORE Plan investment managers to ensure compliance with their respective investment management contracts. · Review and assist in drafting and development of legislation affecting the Department. Review internal controls on an ongoing basis and make recommendations to improve overall governance for both the SMART Plan and the CORE Plan. · Participate in any internal Treasury, Commonwealth, SMART Plan, and/or CORE Plan audits. · Along with the Treasury General Counsel, serve as the Department’s liaison with the Attorney General’s Office on any matter in which the Department is a party or implicated. · Represent the Plans in any court matters if needed. OTHER DUTIES AND RESPONSIBILITIES · As necessary, participate in responding to public records request and subpoenas. · Perform other legal tasks as requested. · Travel as may be necessary or required. REQUIRED KNOWLEDGE AND SKILLS · Education: J.D. from accredited law school. · License/certification: Massachusetts bar certification and good standing with the Massachusetts Board of Bar Overseers. · Knowledge: Understanding of retirement savings plans. · Experience: At least three years’ experience in law firm and/or governmental agency. Experience in litigation and administrative law; contract negotiation and interpretation; and statutory and regulatory interpretation. · Must have experience with compliance, design, and implementation of qualified retirement plans. · Abilities/ skills: Excellent research skills, including facility with Westlaw and other on-line research tools; adept with Microsoft Office suite of products, including Word, Excel, and Outlook; strong attention to detail, organized, and adept at prioritizing and reprioritizing tasks; ready team player, growth mind set, self-directed and self-motivated, and ability to work independently, all with limited administrative support. PREFERED KNOWLEDGE AND SKILLS · Strong knowledge of IRS and DOL rules and regulations relating to ERISA and governmental retirement savings plans. · Interest in a position with increased responsibilities over time. Job: Legal Services* *Organization: Off of State Treas & Rec Genrl *Title: *Defined Plans Counsel / Compliance Officer * Location: *Massachusetts-Boston-1 Ashburton Place Requisition ID: 21000A19