Donna Schmitt
Brooklyn,NY
Summary
Organized and dependable candidate successful at managing multiple priorities with a positive attitude. Willingness to take on added responsibilities to meet team goals.
To seek and maintain full-time position that offers professional challenges utilizing interpersonal skills, excellent time management and problem-solving skills.
Overview
19
19
years of professional experience
Work History
Staff Manager
Mutual Of America Financial Group
02.2005 - 12.2023
- Overseen Senior Manager and 7 staff members throughout the process of plan and/or contract terminations for 401(k), 403(b), Defined Contribution, and Defined Benefit Plans for both Group Annuity (GA) and Net Asset Value (NAV) products to ensure deadlines and commitments were fully met.
- Brief process on contract terminations for all plan types: advise client of documentation required to facilitate the transfer of assets and ensure documents are in order. Secure information necessary for new plan provider to takeover administration of the plan. Collaborate with various internal departments including sales, operations, and legal to ensure seamless deconversion process and client satisfaction. Notify the Company’s Investment and Finance departments of the pending transfer of assets. Once confirmed, process the necessary transactions to wire transfer the assets to new provider and send fund balance and final transfer reports.
- Brief process of plan terminations for DB Plans -obtain certified data and calculate benefits, work with Enrolled Actuaries, prepare required notices and PBGC filing packages. Review and send out Benefit Distribution packages, secure valid participant elections, purchase annuities and process lump sum distributions to complete the plan termination on schedule. Request Deferred Annuity Contract and Certificates.
- Brief process of plan terminations for 401(k) and 403(b) NAV plans: review and send out Benefit Distribution packages when all accounts are in good order. Secure valid participant elections, process lump sum distributions, and set up Default IRA's to complete the plan termination on schedule.
- Brief process of plan terminations for Defined Contribution Plans: review and send out Benefit Distribution packages when all accounts are in good order. Secure valid participant elections, purchase annuities and process lump sum distributions to complete the plan termination on schedule. Request Deferred Annuity Contract and Certificates.
- Acted as the liaison for plan sponsors, financial advisors and third-party administrators.
- Assisted with IRS and PBGC audits as requested.
Conduct regular quality assurance reviews to ensure compliance with company and industry standards.
Developed and implemented new processes and procedures to improve efficiency and effectiveness of the deconversion process. - Acted as the liaison between executives and lower level employees to enforce policies and convey feedback.
- Evaluated employee performance and coached and trained team members, increasing quality of work and employee motivation.
- Assisted in organizing and overseeing assignments to drive operational excellence.
- Conducted regular quality assurance reviews to ensure compliance with company and industry standards.
- Developed and implemented new processes and procedures to improve efficiency and effectiveness of the deconversion process.
Education
High School Diploma -
St. John's Prepatory
Astoria, NY06.2016
Skills
- Windows/Mac OS, Microsoft Office (Word, Excel, Outlook)
- FIS Omni-DC/DB, OmniPay, SponsorConnectcom,
- Working knowledge of SalesForcecom,
- Cisco WebEx
- Microsoft Teams
Timeline
Staff Manager
Mutual Of America Financial Group
02.2005 - 12.2023
High School Diploma -
St. John's Prepatory
Similar Profiles
Ben RobinsonBen Robinson
Client Relationship Manager at Mutual of America Financial GroupClient Relationship Manager at Mutual of America Financial Group
John "Christian" DelligattiJohn "Christian" Delligatti
Group Account Representative at Mutual of America Financial GroupGroup Account Representative at Mutual of America Financial Group
Cole TuckerCole Tucker
Associate Contract Administration Specialist at Mutual Of America Financial GroupAssociate Contract Administration Specialist at Mutual Of America Financial Group