Manager Retirement Administration

Position Summary

Career Interest:
Responsibilities include strategic design related to the health system's retirement plans, all financial wellness programs, and scoping of possible employee recognition and appreciation program. This position will be responsible for leading a small team dedicated to financial wellness and retirement administrative duties.

Participate in Plan Design with respect to participants, eligibility, matching vesting, withdrawals, etc., and manage the day-to-day administration and planning activities for the Retirement Savings Plans, including coordinates, compiles and manages all plan census information, including participant enrollment and vesting. Reviews and advises on plan rules including contribution limits, benefit restrictions, distributions, loans, and hardships. Prepares plan documents, notices, and amendments.

Fulfills fiduciary governance tasks as Plan Administrator and Secretary of the Retirement Benefits Committee (e.g. regular fee reviews, review of vendor requests for proposals, keeping/ratifying meeting minutes, recommending plan amendments/resolutions, etc.) and makes recommendations to improve competitive position and/or legal compliance, including acting as an internal consultant and expert for retirement benefits and fiduciary responsibility best practices and market competitiveness, analyzing benchmark surveys and market, economic and plan financial data to identify trends and improvement opportunities and working with finance to ensure enhancements are budgeted and accounted for properly.

Will lead all financial wellness related programs, in addition to partnering with the Wellness team on financial wellness programming and planning. Responsible for creating and delivering retirement and financial wellness related education sessions to leaders and employees. Will partner with our corporate communications teams on retirement and financial wellness communication strategy and delivery to our employee population. Responsible for scoping an employee appreciation and recognition program.

In addition, this role is responsible for all transition and/or termination of retirement plans related to future integration and acquisitions.

• Skills and duties may vary dependent upon your department or unit.
• Participate in Plan Design with respect to participants, eligibility, matching vesting, withdrawals, etc., and manage the day-to-day administration and planning activities for the Retirement Savings Plans, including coordinates, compiles and manages all plan census information, including participant enrollment and vesting. Respond to complex retirement benefit questions and correspond with vendors to resolve issues.
• Manage quarterly retirement plan administrative and plan performance reviews with all stakeholder parties. Fulfill fiduciary governance tasks as Plan Administrator and Secretary of the Retirement Benefits Committee (e.g. regular fee reviews, review of vendor requests for proposals, keeping/ratifying meeting minutes, recommending plan amendments/resolutions, etc.). Manage quarterly retirement plan administrative and plan performance reviews with all stakeholder parties.
• Make recommendations to improve competitive position and/or legal compliance, including acting as an internal consultant and expert for retirement benefits and fiduciary responsibility best practices and market competitiveness, analyzing benchmark surveys and market, economic and plan financial data to identify trends and improvement opportunities and working with finance to ensure enhancements are budgeted and accounted for properly.
• Manages inbound and outbound files with Third Party administration, reconciles each contribution file from all retirement plans, and conduct quarterly comprehensive audits of all retirement plans. Responsible for the review and final processing of withdrawals, distributions, and loan requests from the retirement plans.
• Develop and implement annual financial wellness and retirement education and engagement calendar of activities to maintain and enhance participant engagement and expand availability of retirement information and education to employees by developing financial education/financial wellness strategy.
• Ensures accurate eligibility and enrollment of all eligible participants and ensures both the employee and the employer contribution levels are accurate based upon years of service. Monitors the forfeiture accounts and applies employer contribution credits at the appropriate time.
• Prepares plan documents as needed including notices and amendment, including administration procedures and guidelines; and manages all participant communications
• Develops audit protocols for all benefit and retirement programs; establishes a regular audit schedule and conducts audits according to schedule; maintains a report of audit findings and corrections; oversees audit corrections and ensures all audit corrections are made; recommends changes to…