Retirement Plan Administrator Job at Rochester Regional Health, Rochester, NY

  • Rochester Regional Health
  • Rochester, NY

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, recordkeepers, trustees, or third-party service providers. Demonstrated critical thinking and problem solving skills. Exceptional customer service skills. Excellent written and verbal communication skills. High level of proficiency with Microsoft Office (Excel, Word, PowerPoint) Ability to maintain confidentiality and appropriate handling of sensitive information with tact and discretion Ability to multi-task and manage time to meet deadlines Ability to work independently and collaboratively within a team environment. Thorough understanding of retirement regulations, e.g., DOL, ERISA, IRS, etc EDUCATION: BA (Required) PHYSICAL REQUIREMENTS: Sedentary - Sedentary roles are primarily office-based and require prolonged sitting (67–100% of the workday) with minimal physical effort and lifting limited to under 10 lbs. Fine motor skills are necessary for computer work, writing, and telephone use, supported by clear visual and auditory ability. Cognitive and emotional demands are high due to extended concentration, frequent interruptions, independent decision-making, and information processing. Although physical exposure is low, administrative areas within healthcare environments may occasionally involve contact with infectious agents. Some roles may require flexible hours, TB screening, or a valid driver’s license.

PAY RANGE: $65,000.00 - $90,000.00

#J-18808-Ljbffr Rochester Regional Health

Job Tags

Work at office, Flexible hours

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