Retirement Plan Administrator

RRHS; United States; On-site; USD 65,000 - 90,000; Full time

Job summary

Rochester Regional Health seeks an experienced Retirement Plan Administrator to manage administration of defined benefit, defined contribution and deferred compensation plans. You will educate employees on plan provisions and retirement options while supporting inquiries and calculations.

You will coordinate with plan recordkeepers, vendors and payroll to ensure accurate benefits, reporting and regulatory compliance, while maintaining data integrity and delivering excellent participant service.

Qualifications

• Bachelor's degree in HR, business, finance, or related discipline or equivalent experience.
• 2+ years of retirement plan administration experience including defined benefit, defined contribution, and/or deferred compensation plans.

Responsibilities

• Administers retirement plans including participant eligibility, vesting status, and participation requirements per ERISA, IRS, and DOL regulations.
• Supports administration of defined contribution and deferred compensation plans with plan recordkeepers and service providers; reviews plan reporting and assists with inquiries.
• Prepares benefit estimates and final calculations in the pension system; maintains data integrity for accurate benefit calculations.
• Coordinates retirement process for participants, explains plan provisions, completes paperwork, and arranges benefit payments.
• Initiates payments with plan trustees; monitors payment entry schedule and coordinates timely payments.
• Conducts periodic audits; monitors nearing retirement and RMD age; prepares participant notices and validates data.
• Reviews and validates retirement plan data, reports, and participant information for accuracy and compliance.
• Serves as liaison with retirement plan vendors, payroll, and internal stakeholders to resolve issues.

Skills

Analytical skills

Data analysis

Excel proficiency

Customer service

Education

Bachelor's Degree in related field

Job description

Job Title: Retirement Plan Administrator

Department: Human Resources

Location: Riedman Campus

Hours Per Week: 40

Schedule: 8am - 4:30pm

SUMMARY

Responsible for administration of Rochester Regional Health's retirement programs, including defined benefit, defined contribution, and deferred compensation plans. Educates employees regarding retirement plan provisions, retirement savings opportunities, and the retirement process. Applies knowledge of plan provisions to support participant inquiries, retirement calculations, reporting, communications, and retirement program administration activities.

RESPONSIBILITIES

Retirement Plan Administration

• Administers retirement plans including determination of participant eligibility, vesting status, and retirement plan participation requirements. Applies knowledge of plan provisions and pertinent ERISA, IRS, and DOL regulations.
• Supports administration of defined contribution and deferred compensation plans through coordination with plan recordkeepers and service providers. Reviews plan reporting, supports participant inquiries, and assists with resolution of plan administrative issues.
• Prepares benefit estimates and final calculations in pension system. Maintains data integrity of participant records to ensure accurate retirement benefits calculations.
• Coordinates the retirement process for participants, including explanation of plan provisions and payment options, completion of appropriate paperwork, and payment of benefits.
• Initiates payments with plan trustees; monitors trustee payment entry schedule, coordinates with trustee representatives to ensure accurate entry and timely benefit payments.
• Conducts periodic audits and monitors for participants approaching normal retirement and Required Minimum Distribution age. Prepares required participant notices; validates data and ensures timely distribution.
• Reviews and validates retirement plan data, reports, and participant information to support accurate plan administration and regulatory compliance.
• Serves as a liaison with retirement plan vendors, payroll, and internal stakeholders to address operational and administrative issues related to retirement programs.

Participant Support and Education

• Educates participants regarding plan eligibility, plan provisions and commencement options. Discusses implications of early, normal, or late retirement benefit commencement. Provides superior customer service by responding to participant inquiries and resolving issues.
• Serves as resource for prospective, current, and former employees regarding defined contribution and deferred compensation plans, including plan features, employer contributions, enrollment, distributions, retirement planning resources, and available decision support tools.
• Supports retirement savings education and engagement activities that promote financial wellness, retirement readiness, and understanding of retirement benefit programs.

Reporting, Communications, and Process Improvement

• Prepares reports and performs data validation activities related to retirement plan participation, contributions, distributions, and benefit calculations.
• Analyzes retirement plan and participant service data to identify trends, support planning, and recommend improvements to participant experience and operational efficiency.
• Assists with development and maintenance of retirement-related communications, educational materials, presentations, website content, and participant resources.
• Collaborates with team members and makes recommendations for process improvement to streamline and maximize efficiency. Participates in development and refinement of department procedures.

Professional Development and Special Projects

• Stays abreast of regulatory developments pertaining to regulations impacting retirement plans. Maintains professional growth and development through ongoing education, attendance at relevant seminars, and participation in professional organizations and committees.
• Participates in Human Resources projects and initiatives as assigned

REQUIRED QUALIFICATIONS

• Bachelor's Degree in Human Resources, Business, Finance, or other related discipline or equivalent relevant experience.
• 2+ years of retirement plan administration experience including defined benefit, defined contribution, and/or deferred compensation plans.

PREFERRED QUALIFICATIONS

• Strong analytical and reporting skills, including proficiency with Excel and data analysis.
• Ability to communicate complex retirement concepts in a clear and understandable manner.
• Experience supporting employee education, communications, or participant engagement activities.
• Knowledge of defined benefit, defined contribution, and deferred compensation plans, including retirement savings concepts and retirement plan administration practices.
• Attention to detail and ability to understand and retain complex plan rules.
• Experience working with retirement plan vendors, recordkee