Position SummaryThis role will manage and provide strategic leadership and operational oversight for the University’s retirement programs. This role requires deep benefits expertise and a strong focus on reporting, controls and management of the 403(b) plan, Retirement Medical Savings Account, Executive Deferred Compensation Plans, Financial Education and Financial Counseling programs and engagement with the Retirement Plans Advisory Committee. Responsibilities include team leadership, vendor management, strategy, design, governance, financial management, compliance and operational delivery. Works closely with key internal stakeholders such as legal, finance and other senior executives. In addition, the individual will be responsible for identifying program enhancements that incorporate the University’s strategic objectives, satisfy legal requirements, and achieve a balance between market practice, employee needs, and the company’s ability to fund such programs. Work with external consultants and professional industry organizations to understand and benchmark market practices in order to maintain competitive plans.
The ability to work extra hours as needed is required, as well as the ability to travel locally to various locations across campus.
Primary Duties & Responsibilities
- Provide expertise on strategic plan design, fiduciary responsibilities; suggest benefit changes and provide financial and competitive analysis to support; implement changes and coordinate internal and external administration and employee communication for the universities 403(b), 457(b) and 457(f) plans and the employee, dependent, and spouse tuition plans.
- Work closely with external recordkeeper to ensure accuracy in accounts, data and plan operations and maintain expected levels of service.
- Manage investment consultant and RPAC committee.
- Work with external consultants and professional industry organizations to understand and benchmark market practices in order to maintain competitive plans and contract pricing.
- Partner with the communications team to enhance participant understanding, create awareness and drive engagement in the production of all benefit-related messages regarding retirement planning, financial education and financial wellness.
- Oversee financial planning – both executive and broad-based.
- Assure that the design and changes to the plans are in compliance with the relevant requirements of ERISA, the DOL and the IRS. Assure timely legal filings and notices (5500s and SARs, fee disclosures, non-discrimination testing, plan corrections, calculations and filings).
- Contact for all retirement plans audits.
- Analyze plan and financial data in response to ongoing business requirements and ad hoc requests.
- Work with the internal IT teams to ensure plan requirements are accurately captured and processed.
- Counsel all levels of employees regarding the plans.
- Act as a point of contact to resolve benefit operational problems, escalations, and corrections.
- Perform other duties as assigned.
- Master’s degree.
- Prior experience in a large complex environment, preferably university or healthcare.
- CEBS designation.
- Effective verbal, written and interpersonal communications skills. Ability to communicate effectively with senior leaders.
- Service-oriented communicator with the ability to forge relationships and bring diverse groups together on difficult benefits issues.
- Demonstrated self-motivated individual driven by challenge with a high degree of reliability, accuracy and productivity.
- Ability to multi-task and manage shifting priorities and deadlines.
- Demonstrated effective planning and project management skills.
- Ability to communicate complex topics simply and clearly.
- Bachelor’s degree.
- Five or more years of related experience in benefits and/or retirement plan experience.
- People management experience.