Benefits Analyst

Ilitch Holdings•Detroit, MI

About The Position

This position works alongside the Company’s benefits team to administer and communicate retirement plans effectively, efficiently, and in accordance with federal and state guidelines. The Benefits Analyst also assists with other benefits-related tasks as needed. The role supports day-to-day administration of 401(k), executive benefits, and pension plans, including enrollment, contributions, funding, recordkeeping, documentation, and compliance. It also involves auditing contributions, funding, and exchange files; preparing analyses and management reports; coordinating with external vendors and internal teams; and developing communications and educational materials for colleagues. The analyst works with the Benefits Manager and HRIS team on changes and testing for the Workday benefits module, monitors and processes benefit change events, provides Level 2 support for retirement-related questions, and assists with Open Enrollment activities. The description notes that duties are illustrative rather than exhaustive and may change at the Company’s discretion.

Requirements

Bachelor’s degree in Human Resources Management, Business Administration, or a related field, or an equivalent combination of relevant schooling and work experience.
2–3 years of proven work experience in benefits processes and retirement planning.
In-depth knowledge of retirement benefit plans, including 401(k) and pension plans, and regulatory requirements such as ERISA and IRS regulations.
Experience with the benefits module in Workday.
Excellent organizational skills and attention to detail.
Strong analytical skills for researching and evaluating benefits programs and making informed choices.
Ability to communicate effectively with all levels of the organization.
Ability to maintain confidentiality of sensitive and personal colleague information.
Ability to cultivate trusting, professional, and respectful relationships.
Strong written and oral communication skills.
Ability to serve as a hands-on Workday technical resource for the benefits module.
Proficiency with Microsoft Office products, including Outlook, Word, Excel, and PowerPoint.
Demonstrated ability to manage multiple priorities in a fast-paced environment.
Exceptional problem-solving skills and consistent follow-through.

Responsibilities

Administer 401(k) retirement, executive benefits, and pension plans, including enrollment, contributions, funding, and recordkeeping.
Maintain accurate and up-to-date plan documentation and processes.
Ensure retirement plans comply with company, state, and federal guidelines and regulations.
Audit contribution withholding and funding, and review inbound and outbound exchange files for accuracy.
Ensure required annual audits are completed on time and successfully.
Review data and assess the effectiveness of retirement benefit programs; prepare reports and presentations for management.
Coordinate with external service providers, including investment advisors, retirement auditors, recordkeepers, and legal advisors.
Oversee educational materials, emails, and presentations to improve colleague understanding of retirement plans and encourage participation.
Stay current on industry trends and best practices; evaluate vendor options and plan enhancements, and recommend changes as needed.
Coordinate with HR, finance, legal, and payroll teams to align retirement programs with organizational goals.
Work with the Benefits Manager and HRIS team to identify and discuss Workday benefits module changes and participate in testing.
Monitor the Workday benefits inbox and process benefit change events, such as qualified life events and job changes, as needed.
Provide Level 2 support to colleagues with retirement questions and concerns.
Assist with Open Enrollment activities, including Workday testing, webinars, communications, reports, and colleague questions.
Perform other benefits-related tasks as needed.