Director, Retirement Plans (U.S. & Puerto Rico)
About The Position
The Director, Retirement Plans is responsible for the strategy, governance, administration, and ongoing evolution of Abbott’s U.S. and Puerto Rico retirement programs, including defined benefit pension plans, defined contribution savings plans, and the Freedom 2 Save student loan program. The role provides strategic leadership for program design, regulatory compliance, vendor management, participant experience, and operational excellence, while ensuring programs remain competitive, financially sustainable, and aligned with Abbott’s total rewards philosophy. The position partners with Benefits & Wellness leadership, Finance, Legal, Payroll, M&A, Executive Compensation, Human Resources, and external service providers to deliver retirement programs that support Abbott’s workforce, retirees, and business objectives. It is responsible for programs serving approximately 42,000 U.S. employees, 1,500 Puerto Rico employees, and 38,000 retirees, including defined contribution plans with approximately $19 billion in assets and defined benefit plans with approximately $7.5 billion in projected benefit obligations. The role reports to the Divisional Vice President, Benefits & Wellness and leads a team of two direct reports.
Requirements
- Bachelor’s degree required.
- 10+ years of progressive experience in retirement, benefits, or related fields, including leadership responsibility in a large, complex organization.
- Experience managing retirement programs within a large corporate environment.
- Demonstrated experience managing retirement programs, external vendors, consultants, and cross-functional stakeholder relationships.
- Experience leading retirement plan vendor evaluations, RFPs, implementations, and ongoing governance processes.
- Experience supporting retirement-related aspects of mergers, acquisitions, divestitures, integrations, or other significant organizational changes.
- Strong knowledge of defined benefit and defined contribution plans, including applicable U.S. and Puerto Rico regulatory requirements.
- Proven analytical, project management, communication, and influencing skills, with the ability to lead complex initiatives and engage senior leaders.
Nice To Haves
- Advanced degree and/or relevant professional certification.
- Fortune 500 experience.
Responsibilities
- Lead retirement plan strategy, design, governance, and compliance for U.S. and Puerto Rico retirement programs.
- Monitor legislative, market, and business developments and recommend program enhancements.
- Support audits, actuarial valuations, and retirement plan integration activities related to M&A transactions.
- Lead retirement plan vendor selection processes, including RFPs, contract negotiations, transitions, and implementation activities.
- Oversee administration of defined benefit, defined contribution, and student loan repayment programs.
- Ensure effective plan operations, vendor performance, regulatory compliance, and participant experience.
- Resolve complex administrative, regulatory, and participant matters.
- Manage relationships with external providers, consultants, and key internal stakeholders.
- Serve as the primary retirement subject matter expert, influencing decisions across functions and leadership levels.
- Direct retirement communications, education, and engagement strategies for employees and retirees.
- Lead and develop the retirement plans team while driving continuous improvement and operational excellence.
- Oversee retirement program financial performance, pension funding activities, budgets, and risk management controls.
- Influence retirement strategy and decision-making across multiple functions, business units, and leadership levels.
Benefits
- Training and career development, including onboarding programs for new employees and tuition assistance.
- Competitive compensation and incentives.
- Medical, dental, vision, wellness, and occupational health programs.
- Paid time off.
- 401(k) retirement savings with a generous company match.
- Financial security through retirement plans.
- The stability of a company with a record of strong financial performance and a history of involvement in local communities.
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What This Job Offers
Job Type
Full-time
Career Level
Director
