Senior Manager, Retirement Plans

Novolex; Lake Forest (IL); On-site; USD 155,000 - 165,000; Full time

Benefits offered by this job

401(k) plan with company match

Medical, dental, vision insurance

Job summary

Novolex is seeking a Senior Manager, Retirement Plans to oversee design, administration, governance, and compliance of the organization’s retirement programs in a leadership role. Position supports total rewards strategy and requires collaboration with Legal, Finance, Payroll, and HR teams.

Ideal candidate will work from Lake Forest, IL, or be within commutable distance to a Novolex location, with responsibility for plan performance, audits, and vendor relationships.

Qualifications

• Bachelor's degree in a related field is required; Master's preferred.
• 8–12+ years of progressive experience in retirement plan administration or related disciplines.
• Experience with ERISA, IRS, DOL, PBGC, and other applicable retirement regulations.
• Experience managing vendors, consultants, audits, and compliance activities.

Responsibilities

• Direct administration of company-sponsored retirement programs including DB and DC plans.
• Oversee plan governance, compliance, annual activities, enrollments, testing, and audits.
• Lead design changes, benchmarking, and strategy for retirement programs.
• Manage pension liabilities analysis, forecasting, and financial reporting.
• Partner with Legal, Finance, Payroll, HR, and external advisors.

Skills

Leadership

Pension analytics

Regulatory compliance

Vendor management

Financial forecasting

Education

CEBS

QPA

QKA

SHRM certification

Job description

Company Overview

Why Choose Us?

Novolex is a leading manufacturer of food, beverage, and specialty packaging that supports multiple industries including foodservice, restaurant delivery and carryout, food processing, grocery and retail, and industrial sectors. Novolex manufacturing and sourcing expertise spans a diverse range of substrates including resin, paper, molded fiber, aluminum and more. We provide customers a broad array of stock and customized solutions with 120 product categories, 250 brands and over 39,000 SKUs.

Our Sustainability Commitment

The Novolex sustainability vision is built upon three pillars: our products, our operations and our people. Each is critically important to our growth and future as a business. These pillars form the foundation of our company-wide commitment to sustainability, helping us achieve our ambitious goals through our wide-ranging initiatives.

Job Description

Summary:

The Senior Manager, Retirement Plans oversees the design, administration, governance, and compliance of the organization's retirement programs, including defined benefit (DB), defined contribution (DC), pension, savings, and other retirement-related plans. This role is responsible for ensuring retirement plans are administered in accordance with applicable regulations and fiduciary requirements while supporting the organization's total rewards and workforce strategies.

Ideal candidate will be in the Lake Forest, IL, Charlotte, NC markets, or within commutable distance to a Novolex location.

Essential Functions & Key Responsibilities:

Retirement Plan Administration

• Direct the administration of all company-sponsored retirement programs, including defined benefit pension plans, defined contribution plans, savings plans, and other retirement offerings.
• Ensure accurate and timely processing of retirement plan transactions, participant records, benefit calculations, distributions, and reporting.
• Oversee annual plan activities including enrollments, nondiscrimination testing, census reporting, actuarial valuations, participant communications, and audits.
• Establish and maintain operational controls to ensure accuracy, efficiency, and compliance.

Plan Governance and Compliance

• Ensure retirement plans are administered in compliance with applicable federal, state, and local regulations, including ERISA, IRS, Department of Labor (DOL), Pension Benefit Guaranty Corporation (PBGC), and related requirements.
• Monitor legislative and regulatory developments and assess impacts on retirement programs.
• Develop, implement, and maintain retirement plan policies, procedures, and governance frameworks.
• Coordinate internal and external audits and support required regulatory filings and disclosures.
• Partner with Legal, Finance, Payroll, Human Resources, and external advisors to mitigate compliance and fiduciary risks.

Retirement Strategy and Plan Design

• Evaluate existing retirement plans and programs to identify opportunities for improvement, cost efficiency, participant outcomes, and competitive positioning.
• Conduct market assessments and benchmarking studies to support strategic recommendations.
• Lead the implementation of plan design changes, enhancements, and new retirement programs.
• Develop business cases and executive recommendations related to retirement plan strategy and investments.

Pension Analytics and Financial Management

• Manage the analysis, tracking, and forecasting of pension liabilities, obligations, and retirement plan costs.
• Partner with Finance, Accounting, Treasury, and actuarial consultants to support budgeting, forecasting, funding decisions, and financial statement reporting.
• Analyze retirement plan data, trends, demographics, participation metrics, and financial outcomes.
• Deliver insights and recommendations to senior leadership regarding risks, costs, funding requirements, and long-term plan sustainability.
• Vendor and Consultant Management
• Manage relationships with third-party administrators, recordkeepers, trustees, actuaries, investment consultants, auditors, and other service providers.
• Establish performance standards and service-level expectations.
• Lead vendor review processes, contract negotiations, and periodic service assessments.
• Ensure external partners provide high-quality service and comply with contractual and regulatory obligations.

Leadership and Stakeholder Management

• Lead, develop, and mentor retirement plan staff and subject matter experts.
• Serve as a trusted advisor to Human Resources leadership and senior management on retirement matters.
• Present plan performance, compliance updates, financial analyses, and strategic recommendations to leadership committees and governance bodies.
• Support employee education and communications related to retirement benefits and financial wellness programs

Candidate Requirements:

• Bachelor's degree in Human Resources, Business Administration, Finance, Accounting, Economics, Actuarial Science, or a related field required. Master's degree preferred.
• 8-12+ years of progressive experience in retirement plan administration, pension management, benefits, consulting, finance, or related disciplines.
• Significant experience managing defined benefit and defined contribution retirement plans.
• Experience with ERISA, IRS, DOL, PBGC, and other applicable retirement regulations.
• Experience managing vendors, consultants, audits, and compliance activities.
• Previous people leadership experience preferred.

Knowledge, Skills, and Certifications:

• Certified Employee Benefit Specialist (CEBS)
• Qualified Pension Administrator (QPA)
• Qualified 401(k) Administrator (QKA)
• Society for Human Resource Management (SHRM) certification
• Professional certifications in finance, accounting, or investments are a plus.

Leadership Expectations

• Operates as a trusted advisor and strategic partner to business leaders.
• Promotes a culture of safety, engagement, inclusion, and accountability.
• Demonstrates business acumen and sound judgment.
• Drives execution of HR initiatives that improve organizational performance.
• Develops people and teams while modeling company values and leadership behaviors.

A reasonable estimate of the current range is $155,000 - $165,000 + bonus + benefits. The range displayed on each job posting reflects the minimum and maximum target salaries for the position across all US locations. Within the range, individual pay is determined by job-related skills, experience, and relevant education or training. At Novolex, it is not typical for an individual to be hired at the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case.

The benefits for this role include 401(k) plan with company match, comprehensive medical, dental, and vision insurance, flexible spending and health savings accounts, paid vacation, and sick days, paid parental leave, paid holidays and wellness program.

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Company Benefits

What You'll Get From Us

Benefits

With safety as our top priority and a commitment to employee well-being an important focus, we offer comprehensive and competitive benefits that include medical, dental and vision insurance as well as a variety of other well-being resources focused on mental, physical and financial health. Specific benefits and well-being programs may vary depending on where you work.

Community Engagement

At Novolex, giving back to the local communities that support us is important. Our Focused Giving Program prioritizes support for organizations whose missions promote sustainability initiatives or address food and hunger needs. We also encourage facility level support of activities in the communities where our employees live and work.

Training and Development

We offer constant opportunities for advancement. From skills development to advanced education programs, training and development programs and courses are available through MyLearning. Programs include company and industry training curricula, support for formal education through the Tuition Reimbursement Program (Non-Union), and a Learning Management System that supports and enhances employee skills at all levels of the organization.

Novolex is committed to providing equal employment opportunity in all employment practices, including but not limited to selection, hiring, promotion, transfer, and compensation to all qualified applicants and employees without regard to age, race, color, national origin, sex, pregnancy, sexual orientation, gender identity, religion, handicap or disability, genetics, citizenship status, service member or veteran status, or any other category protected by federal, state, or local law. Any individual who, because of his or her disability, needs an accommodation in connection with an aspect of the Company's application process should contact [e-mail].

Formerly Pactiv Evergreen