Overview
The Retirement Analyst assists caregivers, participants, and retirees with processing retirement-related transactions and works under the direction of the Manager Retirement Operations. Support is provided to leadership, participants, and retirees across key functional areas including pension plans, retiree welfare benefits, and 401k, 403b, and 457 plans.
States currently paused for sourcing new candidates or for new relocation requests for current caregivers: California, Connecticut, Hawaii, Illinois, Maine, Massachusetts, Minnesota, New York, Pennsylvania, Rhode Island, Virginia, Vermont, Washington.
Essential Functions
- Reports to the Retirement Operations Manager and ensures compliance with all ERISA, DOL, and IRS regulations and guidelines pertaining to defined benefit and defined contribution plans, including adherence to department values, policies, procedures, and security/confidentiality requirements and best security practices.
- Safeguards retirement plan assets by accurately and efficiently processing retirement transactions, answering questions, and resolving concerns, including ensuring compliance with plan documentation.
- Serves as a subject matter expert and resource for retirement benefits, including:
- Defined benefit plans (pension administration and benefit payments)
- Retiree welfare benefits plan (retiree medical, dental, life, and legal insurances)
- Defined contribution plans (payroll contributions, match, 2% contributions, maximizing contributions, and plan administration)
- Acts as a liaison with Payroll, Benefits, HRIS, Finance, Operations, external plan trustees, external auditors, and third-party administrators for defined benefit and contribution plans.
- Interfaces, extracts, and analyzes data to ensure accurate transfer and reporting of information to trustees and other databases associated with the Retirement Program.
- Handles specialized and complex calculations, researches problems or discrepancies, advises on coverage eligibility and process requirements, and coordinates payments and the transfer of benefit payment interface files to stakeholders and third parties.
- Reviews, authorizes, and approves transactions; processes reconciliations; and supports controls completed by other team members. Provides backup support for team functions including plan administration, in-house recordkeeping, operations, and trust relations.
- Performs retirement operational duties, including calculating benefits, setting up and managing benefit payments, troubleshooting issues, evaluating benefit eligibility, performing plan calculations, researching and responding to cases and escalations, and handling participant distributions.
- Determines, as required by plan provisions, which employees are eligible to participate in the plans.
- Interprets plan provisions, policies, procedures, and applicable laws as required.
Skills
- Project Management
- Defined Benefit Plans
- Defined Contribution Plans
- Systems Administration
- Benefits Administration
- Analytical Thinking
- Operational Decisions
- Teamwork
- Complex Problem Solving
- Coordination
Qualifications
- Bachelor’s degree, preferably in Business, Finance, Accounting, Economics, or other related field (obtained through an accredited institution; education is verified).
- Experience working with Retirement Plans Administration or employee benefit related area.
- Experience working with regulations that impact retirement benefits plan administration.
- Superior computer skills including working knowledge of worksheets and word processing.
- Detail-oriented with strong organizational skills.
- Strong problem-solving skills.
Preferred Qualifications
- MBA or Graduate Degree in Finance, Accounting, Economics, or other business-related field (obtained through an accredited institution; education is verified).
Compensation & Benefits
- Hourly pay range: $34.26 - $53.96 (actual hourly rate dependent upon experience).
- Benefits package covering a wide range of programs supporting wellness across mind, body, and spirit.
Location
- Employee Service Center
- Work City: Murray
- Work State: Utah
Schedule
- Scheduled weekly hours: 40
Additional Information
- All positions subject to close without notice.
- Equal opportunity employer: Qualified applicants will receive consideration without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability, or protected veteran status.