Benefits Analyst
3 months ago
Perkins Coie is seeking a qualified, dynamic individual to take on the role of Benefits Analyst - Retirement Plans and will have the opportunity to contribute to a wide variety of complex activities involving the management of the firm's two defined contribution, and one cash balance retirement benefit programs. Using exceptional analytical, organization, and communication skills, the Benefits Analyst is responsible for providing subject matter expertise on day-to-day administration, compliance, vendor management, reporting, and employee communication and education for qualified retirement programs. The position will also conduct research and data analysis regarding various aspects of the plans, identify and develop process improvements, and implement programs accordingly. The firm has recently expanded to international markets and there will be an opportunity to gain experience and set up retirement programs in non-U.S. markets.
ESSENTIAL FUNCTIONS
These essential functions are primary job duties that incumbents must be able to perform unassisted or with some reasonable accommodation.
- Administration: Responsible for the day-to-day administration and operation of the firm's retirement plans, including contribution and funding reconciliation, distributions, QDRO processing, loan processing, retirement and death claim processing, and benefit file coordination and maintenance within established timeframes. Analyze and implement 401(k) and Pension plan design changes, and possess a comprehensive understanding of benefits administration. Serve in a support role for quarterly retirement committee meetings.
- Compliance: Monitor and ensure the legal compliance of the plans by collaborating with providers, internal legal counsel, and internal payroll personnel. Manage the retirement programs' annual audits, 5500 processes, and compliance testing (non-discrimination); read, review, and apply legislative changes affecting the retirement programs. Update and maintain process documentation to stay current with program or processing changes.
- Vendor Management: Manage the relationships between the firm, firm personnel, trustee, and vendors, as applicable, regarding the retirement plans, plan systems, pension calculations, and service valuation; coordinate and assist vendors and trustee with payments for employees as part of the retirement and termination processes. Review and process vendor invoices in a timely manner.
- Plan Reporting: Responsible for providing financial metrics and cost analysis of the retirement plans; collect, verify, and provide retirement data to the plan's actuary as needed for computation of benefits, contribution requirements, valuations, and applicable internal audits; collaborate with accounting and financial reporting to ensure appropriate measurement and reporting of plan assets, liabilities, and funding levels.
- Communications/Education: Prepare and/or supervise the draft and delivery of appropriate educational communications regarding the retirement plans. Review eligibility criteria as needed for firm 401(k), and pension plans; prepare communications and materials necessary to address recommended changes and key issues to the Retirement Plan Committee; interpret and explain policies, procedures, and relevant law to current, terminated, and retired firm personnel. Provide retirement program benefits orientation for newly eligible personnel. Distribute required plan communications to participants by established deadlines.
- Attorney Sabbatical Program Administration: Serve as the primary point of contact for the firm's two sabbatical programs for attorneys. Responsibilities include determining sabbatical eligibility and processing sabbatical requests for Management Committee approval. Tracking leave dates. Entering leaves in the firm's HRIS, Workday. Calculate annual sabbatical point accruals and usage for annual statement production.
- Business Professional Tuition Reimbursement Program Administration: Serve as the primary point of contact for the Business Professional Tuition Reimbursement program. Responsibilities include reviewing program applications and responding to applicants and managers in a timely manner. Tracking the annual expenditure for each applicant. Reviewing and approving requests for reimbursement at course completion. Tracking the annual program expenditure for expense budgeting.
- Other: Serve as the Transportation Coordinator for the Puget Sound region as required by local ordinance. Participate as a member of the *Benefits and *Ask HR email groups to address personnel and beneficiary concerns related to the responsibilities outlined above. Assist the Director of Total Rewards with other projects as needed.
SPECIFIC SKILLS REQUIRED
- Ability to maintain a high level of confidentiality.
- Excellent analytical and problem-solving skills including a demonstrated ability to investigate and resolve complex retirement issues and articulate findings in a clear and concise manner.
- Ability to perform detailed retirement program calculations.
- Strong project management skills with proven ability to manage multiple projects simultaneously with a focus on detail and achieving results.
- Ability to establish strong collaborative relationships with teammates, third-party vendors, HR business partners, Payroll & Finance team members, and all levels of firm personnel.
- Customer-centric, organized, and meticulous with exceptional MS Office skills, especially Excel.
- Strong verbal and written communication skills.
- Demonstrated vendor management experience.
- Experience identifying process improvements and facilitating their implementation.
SPECIFIC SKILLS PREFERRED
- Prior experience working with Workday, ADP, and Vanguard.
- Law firm experience.
- Exposure to international retirement plan administration.
- ASPPA or CEBS certification or classes in retirement plans.
EDUCATION AND EXPERIENCE
Qualified candidates must have a bachelor's degree or equivalent work experience as well as a minimum of five to seven years of Defined Contribution and Define Benefit Plan administration experience. Candidate must have knowledge of federal and state benefit and tax legislation, and a strong knowledge of benefit laws and regulations, including ERISA, USERRA, HIPAA, PPA.
At Perkins Coie, we look for self-motivated individuals, dedicated to providing value and superior service, and above all, have a high degree of integrity and enthusiasm for their work. We have created a company culture based on collaboration, devotion to serving our clients, and mutual respect. Perkins Coie is committed to advancing diversity and inclusion both within the firm and throughout our collective communities. Work with one of the 100 Best Companies to Work For and receive great health insurance, tuition reimbursement, and paid sabbaticals.
This position is eligible for an annual discretionary bonus, 401(k) plan, medical, dental, and vision insurance, accrued paid time off plan starting at 20 days annually, personal medical and parental leave, up to ten paid Holidays, and family care benefits. More information regarding benefits and programs may be found here.
This position may be filled in the following location(s). The compensation depends on qualifications and experience.
Colorado compensation range: $67,490 to $100,280 annually
San Diego compensation range: $77,600 to $115,300 annually
Washington State compensation range: $71,190 to $105,780 annually
Washington D.C. compensation range: $76,890 to $114,240 annually
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