Overview
This role involves administering the policies, processes, procedures, and activities of two defined contribution and three defined benefit retirement plans in compliance with plan documents and federal laws and regulations. The position provides oversight of third-party vendors responsible for daily administration of pension and 401(k) plans, including compliance and audit responsibilities. It serves as the main point of escalation for plan disbursements, problem resolution, and participant inquiries, and handles complex analytical projects and research as assigned by the Retirement Plans Manager.
Responsibilities
- Assist the Retirement Plans Manager with policies, processes, procedures, and activities for all qualified retirement plans, ensuring administration aligns with plan documents and federal regulations.
- Oversee daily administration of pension and savings plans, working closely with outsourced vendors; monitor installment payments, loans, minimum required distributions, asset transfers upon participant death, electronic data interfaces, restoration, allocation, and crediting of forfeitures.
- Manage the Bridging Service Policy related to plan eligibility and vesting credit service.
- Serve as a subject matter expert on retirement plans, interpreting complex plan provisions, responding to inquiries, and providing problem resolution, information, and education to employees, retirees, and terminated vested participants.
- Proactively identify, diagnose, and resolve retirement plan administration issues.
- Conduct ongoing audits and perform daily/routine reporting to ensure retirement plan compliance.
- Partner with Benefits Accounting to assist with information gathering, problem resolution, balancing pension interfaces, reporting, data collection, and audit support for plan financials, Forms 5500, and IRS, DOL, internal, and external audits.
- Handle complex, special, critical, and analytical projects requiring research and recommendations for benefit plan changes; consult with recordkeepers, actuaries, outsource providers, and legal counsel.
- Stay current with regulatory requirements and changes; assist in updating retirement plan communications including letters, SPDs, benefit brochures, and website content.
- Identify opportunities to improve processes and procedures to increase departmental efficiency.
Note: Job duties listed are not all-inclusive; site-specific responsibilities may be assigned.
Requirements
- Bachelor's degree in Business, Finance, HR, or related field and 10 years of 401(k) and pension administration experience; 15+ years of direct retirement plan administration experience may be considered in lieu of a degree.
- Recent experience administering qualified Defined Contribution 401(k) or Defined Benefit pension plans with thorough understanding and ability to interpret complex plan documents and provisions.
- General knowledge of ERISA, IRS, and DOL regulations related to retirement plans.
- Ability to interpret, communicate, and apply retirement plan provisions.
- Experience using vendor portals for retirement plan administration.
- Strong attention to detail with ability to prioritize, organize, and manage multiple tasks.
- Ability to work independently with minimal guidance and collaboratively in a team environment under pressure and deadlines.
- Strong verbal and written interpersonal skills.
- Ability to tactfully handle challenging participant interactions via phone, email, and in person.
- Proficiency in MS Office products.
- Familiarity with SAP, SuccessFactors, and/or other HRIS systems.
Preferred Qualifications
- Experience with audit processes and compliance reporting.
- Ability to manage complex analytical projects and provide sound recommendations.
Compensation & Benefits
- Remote work options available for eligible positions (department/location specific).
- 9/80 work schedule option where applicable.
- Annual vacation incentive (40-120 hours of additional pay) for eligible employees.
- Paid vacation time and company-paid holidays.
- Caregiver leave.
- Excellent 401(k) match and pension plan.
- Performance incentive.
- Company-paid sick leave and long-term disability.
- Medical, dental, and vision plans; FSA and HSA options.
- Company-paid life insurance for active employees.
- Healthy rewards program.
- Service awards program.
- Educational assistance plan.
- Dependent children scholarships.
- Gym membership reimbursement.
- Employee discount programs.
- On-site health clinic, cafeteria, credit union, ATM, and fitness center at select locations.
Note: Not all jobs qualify for all perks.
Location
Positions are available at multiple refinery and corporate locations including Lake Charles, LA; Lemont, IL; and Corpus Christi, TX.