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Retirement Plan Administrator

Description

HOW WE CARE FOR YOU:


At Rochester Regional Health, we are dedicated to getting health care right. Our robust benefits and total rewards foster employee wellbeing, professional development and personal growth. We care for your career while caring for the community.

  • Pension Plan
  • Retirement Plan
  • Comprehensive Benefits Package
  • Tuition Reimbursement
  • Benefits Effective Date of Hire
  • Same Day Pay through Daily Pay

SUMMARY

Responsible for administration of Rochester Regional Health’s retirement program, including defined benefit, defined contribution, and deferred compensation plans. Educates employees regarding plan provisions and the retirement process. Applies in-depth knowledge of plan provisions in determination of plan benefits. Conducts audits of plan data and generates compliance mailings.

STATUS: Full Time

LOCATION: Riedman Campus

DEPARTMENT: Retirement, Human Resources

SCHEDULE: Weekdays

ATTRIBUTES

  • Bachelor's Degree in Human Resources or other related discipline or relevant experience.
  • 2-4 years’ experience in retirement plan administration with an emphasis on defined benefit plans.

RESPONSIBILITIES

  • Plan Administration. Administers retirement plans including determination of participant eligibility, vesting status, and service credit. Applies knowledge of plan provisions and pertinent ERISA, IRS, and DOL regulations. Initiates payments with plan trustees; monitors trustee payment entry schedule, coordinates with trustee representatives to ensure accurate entry and timely payments to participants. 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. Works with external vendor to conduct searches for participant and family members.
  • Data Management. Prepares benefit estimates and final calculations in pension system. Maintains data integrity of participant records to ensure accurate retirement benefits calculations.
  • Participant Support. Educates participants regarding plan eligibility and rules. Discusses implications of early, normal, or late retirement benefit commencement. Provides superior customer service in answering participant questions and resolving issues. Maintains log of participant inquiries and responses; guides participants through pension estimate software. Coordinates the retirement process for participants, including explanation of plan provisions and payment options, completion of appropriate paperwork, and payment of benefits. Serves as contact for questions regarding enrollment and distribution options of 403(b)/401(k)/457(b) plans from prospective, current, and former employees. Explains plan rules and employer contributions as applicable.
  • Collaboration. Work with team members and makes recommendations for process improvement to streamline and maximize efficiency. Participates in development and refinement of department procedures. Stays abreast of regulatory developments pertaining to regulations impacting retirement plans. Maintains professional growth and development by serving on committees, attending relevant seminars, and ongoing education. Participates in Human Resources projects and initiatives as assigned.

EDUCATION:

  • BA (Required)

PHYSICAL REQUIREMENTS: S - Sedentary Work - Exerting up to 10 pounds of force occasionally Sedentary work involves sitting most of the time, but may involve walking or standing for brief periods of time. Jobs are sedentary if walking and standing are required only occasionally and all other sedentary criteria are met.

PAY RANGE: $60,000.00 - $80,000.00

The listed base pay range is a good faith representation of current potential base pay for successful applicants. It may be modified in the future. Pay is determined by factors including experience, relevant qualifications, specialty, internal equity, location, and contracts.

Rochester Regional Health is an Equal Opportunity / Affirmative Action Employer. Minority/Female/Disability/Veteran
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