Benefits Analyst, Retirement

Ilitch Companies; Detroit (MI); On-site; USD 65,000 - 90,000; Full time

Job summary

Ilitch Companies is seeking a Benefits Analyst-Retirement to administer and communicate retirement plans, including 401(k), executive benefits, and pension plans, ensuring compliance and accurate recordkeeping.

You will collaborate with HR, finance, legal, and payroll, analyze plan effectiveness, and support open enrollment, communications, and vendor management. Strong Workday experience is essential.

Qualifications

• Bachelor’s degree in Human Resources, Business Administration or related field or equivalent experience.
• 2–3 years in benefits processes and retirement planning.
• In-depth knowledge of retirement plans (401(k), pension) and regulatory requirements (ERISA, IRS).
• Experience with Workday benefits module.
• Excellent organizational and analytical abilities.

Responsibilities

• Administer day-to-day 401(k), Executive Benefits and Pension plans; manage enrollment, contributions, funding and recordkeeping.
• Ensure compliance with state and federal guidelines across retirement programs.
• Audit contribution withholding and funding; validate files and ensure timely audits.
• Analyze data and prepare management reports and presentations on retirement programs.
• Collaborate with external providers (advisors, recordkeepers) to ensure smooth plan administration.
• Educate colleagues via materials, emails, and presentations to enhance understanding and participation.
• Evaluate plan changes and vendor options to improve retirement benefits offerings.
• Coordinate with HR, finance, legal, and payroll to align retirement programs with organizational goals.
• Work with Benefits Manager/HRIS on Workday changes and testing; monitor benefit change events.
• Provide Level 2 support for retirement questions and assist with Open Enrollment activities.

Skills

Organizational skills

Analytical skills

Communication skills

Confidentiality

Problem-solving

Education

Bachelor's degree in HR/Business

Tools

Workday

Job description

• This position is responsible for working side by side with the Company’s benefits team to administer and communicate the Company’s retirement plans effectively, efficiently and within federal and state guidelines. The Benefits Analyst-Retirement will also assist the team with any other benefit related tasks as needed.

Key Responsibilities:

• Plan administration and documentation: Day-to-day administration of 401k Retirement Benefit plan, Executive Benefits plan and Pension plans, including enrollment, contributions, funding, and recordkeeping. Maintain accurate and up-to-date plan documentation and processes.
• Compliance and legal requirements: Ensure retirement plans are administered in accordance with company, state, and federal guidelines and regulations.
• Audits: Responsible for accurate and timely auditing of contribution withholding and funding. Audit inbound and outbound exchange files for accuracy. Ensure required annual audits are completed timely and successfully.
• Data analysis and reporting: Review data analysis to assess the effectiveness of retirement benefit programs. Prepare reports and presentations for management needed.
• Vendor management: Collaborate with external service providers, such as investment advisors, retirement auditors, recordkeepers, and legal advisor, to ensure smooth plan administration and compliance.
• Colleague education and communication: Oversee educational materials, emails, and presentations as needed to enhance colleague understanding of retirement benefit plans and encourage active participation.
• Benefit plan changes and enhancements: Stay up to date with industry trends and best practices. Evaluate vendor options and enhancements to improve retirement benefits offerings. Recommend plan change as necessary.
• Internal coordination: Collaborate with cross-functional teams, including HR, finance, legal, and payroll, to ensure seamless coordination and alignment of retirement benefit programs with overall organizational goals.
• Benefit module in Workday system: This role will work with the Benefits Manager and HRIS team, to identify and discuss any changes needed and participate in testing.
• Benefit Change Events: Monitor the Benefit Workday inbox for benefit change events such as Qualified Live Events, Job Changes, etc., and process as needed.
• Level 2 Colleague Support: Provide support to colleagues regarding retirement questions and concerns.
• Open Enrollment: Assist in all Open Enrollment activities, including but not limited to workday testing, webinars, communications, reports, and assisting colleagues with questions.

Required Knowledge, Skills and Abilities:

• Bachelor’s degree in Human Resources Management, Business Administration, or related field, or an equivalent combination of relevant schooling and work experience
• Minimum of 2-3 years of proven work experience in benefits processes and retirement planning
• In-depth knowledge of retirement benefit plans, including 401(k) plans, pension plans, and regulatory requirements (e.g., ERISA, IRS regulations).
• Experience with the benefits module in Workday
• Excellent organizational skills and attention to detail
• Excellent analytical skills to research and evaluate benefits programs to make informed choices
• Ability to effectively communicate with all levels of the organization
• Ability to maintain confidentiality of sensitive and personal information of colleagues
• Ability to cultivate trusting, professional, and respectful relationships
• Strong written and oral communication skills to effectively disseminate information
• Be a hands-on Workday technical resource for the benefits module
• Proficient with MS Office products including Outlook, Word, Excel, PowerPoint, etc.
• Demonstrated ability to address multiple priorities in a fast-paced environment
• Exceptional problem-solving skills with consistent follow-through

Disclaimer:

• The above is intended to describe the general content of and requirements for the performance of this job. It is not to be construed as an exhaustive statement of duties, responsibilities, or requirements.