Senior Benefits Analyst - Retirement Plans

OmniForce Solutions; Houston (TX); On-site; USD 90,000 - 120,000; Full time

Job summary

OmniForce Solutions seeks a Senior Benefits Analyst to lead the administration of U.S. and Puerto Rico 401(k) plans and related deferred compensation for senior management. You will manage contributions, loan payments, and partner with record-keepers, HR, and operating units.

You will drive annual nondiscrimination testing, 5500 preparations, and reporting while ensuring ERISA compliance and effective employee communications.

Qualifications

• Bachelor’s degree and 5+ years of experience with 401(k) benefits and administration in a fast-paced environment.
• Thorough knowledge of ERISA requirements and government reporting for deferred compensation.
• Experience in high-volume, customer-focused benefits administration.

Responsibilities

• Manage 401(k) plan contributions and daily administration with record keeper.
• Administer participant loans and related plan features.
• Provide training and ongoing support to Operating Units on 401(k) processes.
• Advise employees on eligibility, coverage, and plan matters.
• Lead annual 401(k) nondiscrimination testing and 5500 audit prep.

Skills

401(k) Plan Administration

ERISA Knowledge

Analytical Skills

Stakeholder Communication

Education

Bachelor’s degree in a related field

CEBS / ASPPA Certification (preferred)

Job description

Our client is a specialized provider of integrated solutions for large-scale, complex facilities and advanced technology projects. Their work brings together capabilities across engineering, procurement, construction, civil, electrical, mechanical, plumbing, power infrastructure, cooling, and other specialty trades to deliver complex projects through a unified approach and clear point of responsibility. They are seeking a Senior Benefits Analyst to join their team in Houston, TX.

Job Description:

As a Senior Benefits Analyst, this person is responsible for successful support and administration of the company retirement plans: US and Puerto Rico 401(k) plans and senior management deferred compensation plan (as required). Key responsibilities include the management of the 401(k) plan contributions and direct daily administration of the plans providing front-line customer service and support to Operating Units, employees, and management. This position will provide input in the plan design and improvement to ensure compliance and alignment with the overall goal of the Benefits & 401k.

• Ensures accurate and timely delivery and funding of employee and employer 401(k) contributions, and loan payments to record keeper.
• Administers participant loans in compliance with Plan requirements.
• Provides training and on-going support to Operating Units in a variety of 401(k) related functions.
• Advises employees on eligibility, coverage, and other 401(K) retirement plan matters.
• Researches and works with record keeper to investigate and correct processing issues in accordance with regulations.
• Functions as a liaison between vendors, Human Resources, employees, and Operational Units.
• Lead support role with the annual 401(k) plan non-discrimination testing, match true-up and audit processes to include data compilation across the Company, calculation validations with service providers, work with outside auditors in preparation of the financials and associated 5500.
• Assists with the administration of the Company’s Non-Qualified Deferred Compensation plan.
• Handles escalated participant matters in an efficient manner that ensures timely resolution.
• Partner with IT and HR technology team to assist in the implementation of systems and reporting for the successful and effective management and administration of retirement plans, including analyzing file specifications, testing, and researching/resolving issues internally and with third-party administrators and systems.
• Stays abreast of applicable 401(K) legislation. Assists in developing employee communications for participation solicitation, changes in regulations, processing, or other relevant information.
• Enforces policies and procedures to ensure accuracy of the gathering, validation, and integration of data necessary to support retirement plan.
• Produces and maintains a variety of reports and queries utilizing appropriate reporting tools.
• Provide peer review and audit of retirement administration.
• Seeks opportunities for process improvement and efficiencies.
• Adheres to internal standards, policies, and procedures.
• Performs other duties as assigned.

Required Education and Experience:

• Bachelor’s degree (4-year college degree) and 5+ years of experience with 401(k) benefits and administration in a fast-paced, high volume, customer-focused environment, with an emphasis on interpersonal relationship building and employee relations.

Preferred Education and Experience:

• Strong analytical and integrative skills including the ability to draw conclusions and identify trends from data in a logical and systematic way.
• Thorough knowledge of ERISA requirements and exposure to government reporting requirements for deferred compensation plans.
• 5-10 years of experience with 401(k) benefits and administration in a fast-paced, high volume, customer-focused environment, with an emphasis on interpersonal relationship building and employee relations.

Preferred Licenses/Certifications:

• Certified Employee Benefit Specialist (CEBS);
• ASPPA The Retirement Plan Fundamentals (RPF) Certificate;
• Or completion of similar benefits related courses