Benefits Analyst

2 months ago

Seattle, United States Perkins Coie Full time

Job Description: 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 Profession

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