Job Description Summary
Internships are short-term work experiences for a designated
period of time that allow college students the opportunity to
observe and participate in the professional work environment, to
explore how his/her interests relate to possible careers, and to
gain practical experience in an industry relating to their field of
study. To qualify for an internship, applicants must be currently
enrolled full-time at a college or university pursuing a specific
degree program. Internships are not available for students who have
completed their college education or who will graduate prior to the
conclusion of the internship.
The Retirement Compliance and Testing Intern will be tasked with
handling the preparation and mailing of required IRS Form 5500 and
applicable schedules and/or annual and mid-year compliance tests
for an assigned caseload. Responsibilities will include but are not
Form 5500 functions:
- Analyze and research data to ensure proper completion of Form
5500 and applicable schedules.
- Prepare forms following set deadlines and quality
- Provide communications and auditing packages to auditors and
clients according to IRS regulations.
- Answer applicable questions from auditors and clients, and
assist clients with e-filing of 5500 forms and attachments.
Compliance testing functions:
- Analyze and research census data provided by the client in
preparation for compliance testing.
- Determine appropriate tests needed per plan based on specific
- Perform compliance testing (ADP/ACP, 401(a)(4), 410(b),
Benefits, Rights & Features, Top Heavy), calculations of employer
match and nonelective contributions, and applicable refunds.
Monitor 402(g) and 415 limits and handle corrective measures.
- Resolve plan operational errors discovered during test
- Review plan documents and understand the impact to the
- Under applicable guidance, assist clients with 5500 processes
and/or compliance testing and overall compliance with the
- Evaluate alternative solutions and consult with other team
members/manage for resolution.
- Currently enrolled university student working towards a
bachelor's degree in finance, business, or similar degree
- Analytical skills and attention to detail
- Ability to prioritize work within assigned caseload
- Proficiency using MS Office
- Knowledge of testing and 5500 software a plus
- Strong written & verbal communications communication
- Ability to work independently and as part of a team
- Reliable, dependable
- Virtual working environment for the duration of the
This job description is not a contract of employment nor for any
specific job responsibilities. The Company may change, add to,
remove, or revoke the terms of this job description at its
discretion. Managers may assign other duties and responsibilities
as needed. In the event an employee or applicant requests or
requires an accommodation in order to perform job functions, the
applicable HR Business Partner should be contacted to evaluate the
Rewards & Compensation
In addition to gaining exposure to the financial services and
insurance industry, students gain access to intern exclusive events
and networking opportunities throughout the summer while receiving
a competitive compensation.
The hourly rate for this position generally ranges between
$15.00-$20.00 an hour for undergraduates and up to $25 an hour for
graduate students. This range is an estimate, based on preexisting
standards, operational needs and other considerations permitted by
law. The range may vary above and below the stated amounts, as
permitted by Colorado Equal Pay Transparency Rule 4.1.2.
Why Work for Us
Total Rewards at Transamerica: It's more than a paycheck.
Our comprehensive Total Rewards package is designed to help
support you in many ways - throughout all stages of your life and
career. We provide a competitive, market-driven program that
encompasses base compensation, bonus potential, retirement, health
and wellness benefits, learning and development opportunities, plus
great employee perks. All designed with you in mind to help you
live your best life, grow personally and professionally - and feel
valued for the work you do.
Learn more about our Total Rewards Package.
Equal Opportunity Employer:
Transamerica Life Insurance Company is an Equal Employment
Opportunity employer and does not discriminate against any
applicant or employee because of age, religion, sex, gender
identity, genetic information, race, color, national origin,
pregnancy, sexual orientation, marital status, participation in the
uniformed services (e.g. U.S. Armed Forces, National Guard),
physical or mental disability, or any other status protected by
federal, state, or local equal employment opportunities laws.
Applicants with physical or mental disabilities may be entitled
to a form of reasonable accommodation under the Americans with
Disabilities Act and certain state and local laws. A reasonable
accommodation is a change in the way things are normally done which
will insure equal employment opportunity without imposing undue
hardship on the Transamerica Companies. Please contact:
firstname.lastname@example.org if you are a job seeker with a
disability, or are assisting someone with a disability, and require
assistance to apply for one of our jobs.
If you experience technical problems during the application
process, please email email@example.com.