Senior Manager, Retirement Plans

Company Overview Why Choose Us?

Novolex is a leading manufacturer of food, beverage, and specialty packaging that supports multiple industries including food service, restaurant delivery and carryout, food processing, grocery and retail, and industrial sectors. Novolex manufacturing and sourcing expertise spans a diverse range of substrates including resin, paper, molded fiber, aluminum and more. We provide customers a broad array of stock and customized solutions with 120 product categories, 250 brands and over 39,000 SKUs.

The Novolex sustainability vision is built upon three pillars: our products, our operations and our people. Each is critically important to our growth and future as a business. These pillars form the foundation of our company-wide commitment to sustainability, helping us achieve our ambitious goals through our wide-ranging initiatives.

Summary:

The Senior Manager, Retirement Plans oversees the design, administration, governance, and compliance of the organization's retirement programs, including defined benefit (DB), defined contribution (DC), pension, savings, and other retirement-related plans. This role is responsible for ensuring retirement plans are administered in accordance with applicable regulations and fiduciary requirements while supporting the organization's total rewards and workforce strategies.

Ideal candidate will be in the Lake Forest, IL, Charlotte, NC markets, or within commutable distance to a Novolex location.

Essential Functions &

Key Responsibilities:

Retirement Plan Administration

• Direct the administration of all company-sponsored retirement programs, including defined benefit pension plans, defined contribution plans, savings plans, and other retirement offerings.
• Ensure accurate and timely processing of retirement plan transactions, participant records, benefit calculations, distributions, and reporting.
• Oversee annual plan activities including enrollments, nondiscrimination testing, census reporting, actuarial valuations, participant communications, and audits.
• Establish and maintain operational controls to ensure accuracy, efficiency, and compliance.

Plan Governance and Compliance

• Ensure retirement plans are administered in compliance with applicable federal, state, and local regulations, including ERISA, IRS, Department of Labor (DOL), Pension Benefit Guaranty Corporation (PBGC), and related requirements.
• Monitor legislative and regulatory developments and assess impacts on retirement programs.
• Develop, implement, and maintain retirement plan policies, procedures, and governance frameworks.
• Coordinate internal and external audits and support required regulatory filings and disclosures.
• Partner with Legal, Finance, Payroll, Human Resources, and external advisors to mitigate compliance and fiduciary risks.

Retirement Strategy and Plan Design

• Evaluate existing retirement plans and programs to identify opportunities for improvement, cost efficiency, participant outcomes, and competitive positioning.
• Conduct market assessments and benchmarking studies to support strategic recommendations.
• Lead the implementation of plan design changes, enhancements, and new retirement programs.
• Develop business cases and executive recommendations related to retirement plan strategy and investments.

Pension Analytics and Financial Management

• Manage the analysis, tracking, and forecasting of pension liabilities, obligations, and retirement plan costs.
• Partner with Finance, Accounting, Treasury, and actuarial consultants to support budgeting, forecasting, funding decisions, and financial statement reporting.
• Analyze retirement plan data, trends, demographics, participation metrics, and financial outcomes.
• Deliver insights and recommendations to senior leadership regarding risks, costs, funding requirements, and long-term plan sustainability.
• Vendor and Consultant Management
• Manage relationships with third-party administrators, recordkeepers, trustees, actuaries, investment consultants, auditors, and other service providers.
• Establish performance standards and service-level expectations.
• Lead vendor review processes, contract negotiations, and periodic service assessments.
• Ensure external partners provide high-quality service and comply with contractual and regulatory obligations.

Leadership and Stakeholder Management

• Lead, develop, and mentor retirement plan staff and subject matter experts.
• Serve as a trusted advisor to Human Resources leadership and senior management on retirement matters.
• Present plan performance, compliance updates, financial analyses, and strategic recommendations to leadership committees and governance bodies.
• Support employee education and communications related to retirement benefits and financial wellness programs

Candidate Requirements:

• Bachelor's degree in Human Resources, Business Administration, Finance, Accounting, Economics, Actuarial Science, or a related field required. Master's degree preferred.
• 8-12+ years of progressive experience in…