HRO Retirement Specialist

Lockton; Plano (TX); On-site; USD 50,000 - 250,000; Full time

Job summary

An established industry player is seeking a Benefits Specialist focused on 401(k) plans to enhance their HR Outsourcing team. This role involves managing client accounts, ensuring compliance, and streamlining processes for retirement plans. The ideal candidate will thrive in a fast-paced environment, showcasing their expertise in employee benefits and strong analytical skills. Join a dynamic team that values professionalism and adaptability while contributing to impactful client relationships and operational efficiencies. If you have a passion for the retirement industry and a knack for problem-solving, this opportunity is perfect for you!

Qualifications

• 2 years of employee benefits experience preferred.
• Ability to manipulate large spreadsheets and census data.
• Strong knowledge of retirement plan products.

Responsibilities

• Manage day-to-day administration of retirement plans.
• Ensure compliance with laws and company policies.
• Prepare reporting for audits and valuations.

Skills

Mathematical/Technical Expertise

Microsoft Office Skills

Organizational Skills

Communication Skills

Knowledge of Federal and State Legislation

Education

Bachelor's Degree

Tools

Workday

Job description

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Your Responsibilities

Due to our success and increased business opportunities, we are looking for a Benefits Specialist with a focus on 401(k), to partner with the HR Outsourcing team in managing and servicing client accounts operating as an extension of the client’s HR team. The ideal candidate will demonstrate a high level of professionalism; possess the ability to work well in a fast-paced environment and the flexibility to easily adapt to changing priorities.

• Responsible for the day-to-day administration and the relationship with current record keepers/trustees.
• Evaluates operational workflows to increase efficiencies and process improvements.
• Streamlines recordkeeping processes for management and administration of all defined contribution and nonqualified deferred compensation plans.
• Ensures compliance with laws as well as with company policies and procedures.
• Oversees the internal and external resources required to make changes to the retirement plans such as the setup amendments, merger, restatement or termination.
• Initiates process and prepares reporting for annual valuations, nondiscrimination testing, internal and external audits, Form 5500s, annual funding notices, special filings and summary annual reports to internal departments and outside vendors.
• Provides input and recommendations for the Investment Advisory Committee regarding suggested plan improvement and legal compliance.
• Responsible for reviewing loan monitor reports and updating participant loans as needed or requesting reamortization from the record keeper.
• Reviews Summary Plan Descriptions as they are updated for accuracy and ensure the language matches actual plan practice.
• Manages the preparation of communications with internal and external contacts.
• Assists Field Human Resources Managers and Associates in formulating responses to participants’ questions, in problem resolution and in plan interpretation.
• Processes contributions, determine eligibility, load election and loans and other retirement related data updates.
• Review and/or process frequent 401(k) payroll contribution funding at recordkeeper.
• Responsible for reporting of plan metrics, determining trends, and recommending plan changes.
• Works closely with Payroll and HRIS department relating to 401(k) deductions and nonqualified plans.
  
  

Qualifications

• Bachelor’s Degree is required.
• Two years employee benefits experience with emphasis on recordkeeping, compliance, trust services, etc. preferred.
• Must possess mathematical/technical expertise in managing and reporting monthly statistics, tracking results and observations.
• Ability to manipulate large spreadsheets, census data, benchmarking data, etc.
• Excellent computer skills including Microsoft Office software.
• Strong working knowledge of Federal and State legislation, legal issues related to the retirement industry, knowledge of differing financial arrangements and products available to clients (i.e. retirement plan products).
• Excellent organizational and communication skills.
• Workday experience is a plus.
• Legal right to work in the United States
  
  

Seniority level

• Seniority level

  Entry level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

• Industries

  Insurance

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