Retirement Benefits Manager
7 days ago
The Retirement Benefits Manager is accountable for managing all aspects of the delivery of the retirement and financial wellness programs to ensure effective and compliant benefit administration as well as delivering exceptional service to participants. This position will be located in Lincolnshire, IL. Hybrid schedule 3 days onsite
What You’ll Do:
- Oversee day-to-day administration and operations of retirement and financial wellness programs
- Lead and manage to completion all compliance-related tasks including, but not limited to, 5500 filing and audit, compliance testing, required notice distributions and RMDs
- Develop and monitor administrative procedures that result in accurate processing of the 401(k) plan and deferral elections and contribution processing/funding; develop and monitor internal controls; manage all retirement and financial wellness vendors
- Collaborate and effectively communicate with all vendors, the benefits team and cross-functionally to research and resolve administration and recordkeeping issues
- Understand business and Plan objectives and provide clear direction to vendors regarding upcoming activities or changes
- Lead and manage the implementation of new programs, vendors or benefit changes
- Lead and manage the development of standard and targeted participant communications
- Conduct regular stewardship meetings and evaluate account management service, delivery performance and customer service metrics; provide regular feedback to vendors; collaborate with vendors to create, implement, and manage any process improvement initiatives
- Understand plan performance and trends to provide actionable advice and creative solutions for all benefit programs
- Oversee regular reviews of vendor websites, participant materials, call center scripts and resources to ensure accurate information and exceptional service is delivered to participants across all vendors
- Ensure compliance with ERISA, the Internal Revenue Code and other relevant laws and regulations governing retirement plans
- Coordinate Benefits Committee meetings and plan reviews
- Support other projects as necessary
Education & Experience:
- Bachelor's degree and/or minimum 5-7 years’ experience in retirement benefits administration, design, compliance and analytics
- Experience with pertinent federal and state regulations affecting 401(k) plans
- Experience with 3(38) Investment Manager model preferred
- Advanced competency in Microsoft programs (Word, Excel, Power Point) and an HRIS system
- Professional Certification such as Employee Benefits Professional or Certified Employee Benefits Specialist (CEBS) preferred
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