Retirement Plans and Benefits Lead

MFS; Boston (MA); Hybrid; USD 79,000 - 113,000; Full time

Benefits offered by this job

15% employer retirement contribution

Education Assistance: loan payoff

Tuition reimbursement up to $8,000

Education: access to tutors and tutors

20 weeks maternity leave

Health Savings Account contribution

Tax-advantaged commuter benefits

Wellness programs

Job summary

MFS is seeking a Retirement Plans and Benefits Lead to oversee administration, governance, compliance, and improvement of our retirement and employee benefits programs in the United States. You will partner with internal stakeholders and external vendors to ensure effective governance and regulatory compliance.

The role requires 5-6+ years in benefits and 5 years in retirement plan administration, with a Bachelor's degree.

Qualifications

• Bachelor's Degree required.
• 5-6+ years of Benefits experience required.
• 5 years of Retirement Plan administration experience is preferred.
• Strong analytical/problem solving abilities; able to partner with employees, internal partners, and vendors.

Responsibilities

• Oversee administration of US retirement plans and benefits programs with focus on governance, compliance and continuous improvement.
• Manage benefits processes and systems ensuring compliant records and strong employee experience.
• Maintain retirement and welfare plan documents; coordinate with Legal on legislative updates.

Skills

Benefits administration

Regulatory compliance

Vendor management

Employee communications

Data governance

Process improvement

Education

Bachelor's Degree

Tools

Workday

Job description

At MFS, you will find a culture that supports you in doing what you do best. Our employees work together to reach better outcomes, favoring the strongest idea over the strongest individual. We put people first and demonstrate care and compassion for our community and each other. Because what we do matters – to us as valued professionals and to the millions of people and institutions who rely on us to help them build more secure and prosperous futures.

THE ROLE

The Retirement Plans and Benefits Lead will oversee the administration, governance, compliance, and continuous improvement of our retirement and employee benefits programs. The Lead will partner with internal stakeholders and external vendors to ensure effective retirement plan governance, operational excellence and regulatory compliance.

WHAT YOU WILL DO

• Lead administration of U.S. retirement plans, including contributions, payroll reporting, plan reconciliations, beneficiary communications, annual notices, required distributions, and participant communications in addition to participating in health and welfare, wellbeing, and employee benefit programs with a focus on operational excellence, compliance, and continuous improvement.
• Oversee benefits processes and systems to ensure top‑notch employee experience and accurate records in compliance with all local, state and federal regulations.
• Ensure thorough formal documentation for all benefits processes and accurate records are maintained while providing top notch employee support. Maintain and update annual compliance calendar.
• Maintain proper Retirement and Welfare Plan documents. Work with Legal to ensure legislative updates are reflected in documents, and review procedures and update as needed to comply with local, state and federal legislative changes to ensure alignment with employee policy manual.
• In partnership with benefits team members, provide input to strategy for employee well‑being program working with input from ERGs, consultants, and business partners. Lead the coordination and implementation of US the program.
• Manage all Benefit vendor relationships in adherence with MFS internal vendor requirements. Work with Legal, Risk, and IT to ensure all vendor due diligence is performed in a satisfactory manner. Making recommendations as necessary in the event of under‑performing vendors. Participate in all global benefits RFPs as lead for reviewing and onboarding benefits vendors.
• Oversee all US benefits audits, including annual retirement plans audit. Ensure compliance with applicable laws and regulations, such as the Affordable Care Act (ACA0, the Health Insurance Portability and Accountability Act (HIPAA), and Massachusetts Paid Family Medical Leave Act (MPFML), Responsible for ensuring timely filing of all state and federal US regulatory filings. Support global team with relevant local filings.
• Participate in global pension review, partnering with local working groups and providing regular updates to appropriate bodies, including the Retirement Investment Committee, to ensure proper governance and oversight of retirement plans globally.
• Address employee inquiries and concerns related to benefits, work closely with HR, employees, and vendors to resolve issues in a timely manner.
• Partner with benefits and technology teams ensure benefits administration tasks are operationalized on the Workday platform where appropriate with a focus on continuous improvement.
• Conduct data audits in addition to regularly scheduled reconciliations to ensure data accuracy across all systems.

WHAT WE ARE LOOKING FOR

• Bachelor's Degree required.
• 5-6+ years of Benefits experience required.
• 5 years of Retirement Plan administration experience is preferred.
• Excellent attention to detail and demonstrated abilities using analytical thinking/problem solving skills in identifying issues and providing solutions as required, partnering with employees, internal partners, and vendors to resolve issues.
• Strong interpersonal skills with demonstrated ability to build and maintain productive working relationships with a wide range of contacts.
• Solid organization and time management skills with demonstrated ability to effectively manage multiple priorities and meet deadlines.
• Ability to protect and maintain highly confidential information.

#LI-JN1

Base Salary Range: $79,000.00 - $113,000.00This position is eligible for competitive incentive bonus.

At MFS, we believe in fair and transparent compensation. For that reason, we’re including the salary range for this position. This range reflects our good‑faith expectation for what we’ll pay depending on the candidate’s experience, training and education. In addition to the salary, we also offer significant and competitive incentive compensation based on both individual and company performance. Other components of our Total Rewards Package include:

• MFS contributes an amount equal to 15% of your base salary to your retirement account that is separate from the company -sponsored 401(k)

• Education Assistance: MFS contributes $100 monthly up to $10,000 lifetime maximum directly to loan provider

• Education Assistance: Tuition reimbursement up to $8,000 annually

• Education Assistance: Access to discounted tutors and college coaches

• Generous time off and fully paid leaves including 20-weeks for maternity, 12-weeks for parental and caregiver leaves

• Choice of medical and dental plans and an and an employer contribution into the Health Savings Account

• Tax deferred commuter benefits & flexible spending accounts (medical & dependent care)

• Wellness Programs: Robust wellness webinars, employee assistance program with a focus on mental health, subsidized fitness benefit via Wellhub (formerly Gympass), where you can workout at gyms, studios and boutique fitness locations near you, join virtual personal training sessions and access a wide variety of well‑being apps

Our compensation philosophy is to pay competitively for talent while ensuring equity across employees performing comparable work. We are committed to transparency – if you have questions about how we arrived at this range or what additional benefits and bonus opportunities come with the role, we’ll be happy to discuss them

#LI-HYBRID

MFS is a hybrid work environment (remote/onsite) unless otherwise stated in the job posting.

If any applicant is unable to complete an application or respond to a job opening because of a disability, please contact MFS at 617-954-5000 or email [e-mail] for assistance.

MFS is an Equal Opportunity Employer and it is our policy to not discriminate against any employee or applicant for employment because of race, color, religion, sex, national origin, age, marital status, sexual orientation, gender identity, genetic information, disability, veteran status, or any other status protected by federal, state or local laws. Employees and applicants of MFS will not be subject to harassment on the basis of their status. Additionally, retaliation, including intimidation, threats, or coercion, because an employee or applicant has objected to discrimination, engaged or may engage in filing a complaint, assisted in a review, investigation, or hearing or have otherwise sought to obtain their legal rights under any Federal, State, or local EEO law is prohibited. Please see the Know Your Rights: Workplace Discrimination is Illegal document, linked for your reference.