What is a record keeper and how to become one

A record keeper is responsible for maintaining and organizing information in a systematic manner. They gather, register, and arrange materials for data entry and typing pools. Record keepers prepare and assemble financial reports according to guidelines, often handling inventory valued in the hundreds of thousands. They monitor for compliance with regulations such as the Bank Secrecy Act and HIPAA. In the context of defined contribution plans, record keepers administer recordkeeping for plans ranging in size from 130 to 5,600 participants. They review financial transactions, monitor budgets, and ensure expenditures stay within limitations. Record keepers scan documents into computer software for electronic charts and assist with processing 401(k) and 401(m) Non-discrimination testing. They also prepare month-end reports and financial statements. Record keepers may support teams with daily processing and plan administration, and assist with special projects. They are also involved in training new hires on plan provisions, processes, and procedures.

How long does it takes to become a record keeper?

It typically takes 6 months to 1 year to become a record keeper:

• First 6 months: Learning the basics of record keeping, such as maintaining accurate and complete records, organizing and storing documents, and retrieving information as needed.
• Next 6 months: Gaining practical experience in record keeping, honing skills such as data entry, database management, and file maintenance.

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