Retirement Administrator

PURPOSE OF POSITION:

Coadministers the Alaska Railroad Corporation retirement programs, including the Corporate Pension Plan, 401(k) Tax Deferred Savings Plans, 457 Deferred Compensation Plan, Retiree Medical Plan. Interprets plan provisions and applicable requirements; exercises independent judgment in resolving complex participant and administrative matters; recommends changes to policies, procedures, controls, and plan communications; coordinates retirement plan related activities with third party administrators, recordkeepers, actuaries, trustees, investment service providers, and other consultants;

interfaces with ARRC’s auditors; and disseminates and provides retirement education and counseling to employees and beneficiaries. Work is performed with limited day-to-day direction and is evaluated primarily for accuracy, compliance, timeliness, service quality, and achievement of program objectives.

Administers participant transactions and complex benefit requests, including normal and disability retirements, refunds, de minimis distributions, Required Minimum Distributions, repurchases of forfeited pension service, reinstatement of forfeited employer matches, beneficiary matters, Qualified Domestic Relations Orders, and military service purchases. Reviews facts and plan provisions, identifies missing or conflicting information, determines appropriate processing within established authority, coordinates with service providers, and escalates matters presenting material legal, fiduciary, or policy risk.

Serves as an operational liaison with the pension recordkeeper, actuary, auditor, trustee, investment managers, and other service providers. Defines data and service requirements, reviews deliverables, monitors performance and issue resolution, validates information, and recommends corrective action, process changes, or escalation when service, control, or compliance concerns arise. In accordance with the Internal Revenue Code, review and evaluate which expenses incurred by the retirement plans are settlor or non-settlor expenses and which can be paid from plan assets.

Supports all of the retirement plan Committees. Develops agendas and decision materials, coordinates meetings, prepares accurate minutes, tracks action items, researches issues, evaluates alternatives, and presents recommendations for committee consideration. Identifies appropriate fiduciary education and coordinates related arrangements and expenses.

Presents New Employee Onboarding providing retirement benefit education for new hires. Provides retirement education and individualized counseling to employees, retirees, and beneficiaries. Independently explains plan provisions, available elections, administrative requirements, and the operational consequences of choices and referring participants to appropriate professional resources.

Prepares and reviews recurring and ad hoc reports on plan activity, fund status, participant transactions, and administrative operations. Monitors the trust investment funds, ensures balance threshold is maintained, complete investment trades, purchases, liquidation instructions for approval; monitors payroll, HRIS, and recordkeeper data; investigates variances; documents conclusions; and recommends corrections or control improvements. Coordinates delivery of annual participant statements and supports audits, actuarial requests, and required reporting.

Maintains the retirement administration manual, forms, procedures, employee communications, and intranet content. Tracks required updates for restatements of Retirement Plan Documents and Summary Plan Descriptions.

Administers 401(k) and 457 plan QDRO processing and monitors plan loan activity. Identifies defaults and other exceptions, determines administrative action under plan terms and established procedures, coordinates corrections, and maintains supporting records.

Requires comprehensive working knowledge of retirement plan administration, including plan concepts, plan documents, policies, precedents, fiduciary governance, participant communications, benefit calculations, QDRO administration, vendor oversight, audit support, data reconciliation, and applicable federal requirements. Applies this knowledge to interpret plan provisions, evaluate administrative options, provide authoritative technical guidance, and recommend compliant and practical solutions. Maintains sufficient knowledge of HRIS, payroll,…