Manager, Pension

Hackensack Meridian Health•Iselin, NJ

20h•Remote

About The Position

The Pension Manager is responsible for the day-to-day administration and operation of the retirement plans (Qualified and Non-qualified Defined Contribution plans and Defined Benefit Plans) including contribution/funding reconciliation, oversight of all distributions including: QDRO (Qualified Domestic Relations Orders), loans, in-service withdrawals, lump sums, and annuity processing, benefit file coordination and maintenance. Ensures consistent application of retirement plan provisions. Responsible for compliance with company policies and controls. Point of contact for annual plan audits, non-discrimination testing, and Form 5500 and Form 8955 filings. Manages the relationships between Hackensack Meridian Health's trustees and vendors. Responsible for providing financial metrics and cost analysis of retirement plans; collects verifies and provides retirement data to the fund's actuary as needed for computation of benefits funding requirements and valuations; collaborates with financial reporting to ensure appropriate measurement and reporting of plan assets and funding levels.

Requirements

Bachelor's level degree in Business, Finance, or HR.
Minimum of 7 years of experience in the field or a related area.
Supervisory/managerial experience.
Knowledge of federal and state benefit and tax legislation.
Detailed oriented with strong MS office Excel skills.
Familiarity in HRIS systems (PeopleSoft and Workday).

Nice To Haves

Master's level degree or equivalent.
Prior healthcare experience.
CEBS certification in pension administration or classes in retirement plans.

Responsibilities

Ensures that all team members' employer match, core contributions, and transition credits are analyzed, and completed in a timely and accurate manner.
Produces contribution/funding reconciliations.
Coordinates Plan distributions with pension and savings plan administrators including: QDRO processing , lump sum, annuity, in-service withdrawals, and loans.
Interprets and explains policies procedures and relevant law to current, terminated, and retired team members.
Represents the Benefits area for all pension and savings plan discussions related to acquisitions and divestitures.
Serves as point of contact for all changes to pension and savings plans. May liaise with outside counsel with regard to potential legal impact of proposed changes.
Assists HMH actuarial team and pension recordkeeper with the annual actuary pension valuation and prepares the data for the annual employee benefit statements.
Works closely with recordkeepers in reconciling data related to changes in employment status, breaks in service and name changes.
Conducts retirement counseling with prospective retirees and terminated vested employees eligible for pension benefits.
Determines vested status under the pension plan for all terminated employees.
Responsible for establishing team goals and managing performance of staff.
Maintains accurate record keeping for all active retirees, deceased retirees, and terminated vested participants.
Manages vendor deliverables as related to Retirement Programs. Performs quarterly KPI and performance reviews of pension recordkeeper to ensure established levels of service are being met.
Reviews changes in federal legislation to ensure that the health network is in compliance; work closely with actuary and recordkeepers to establish procedures which will ensure compliance.
Assists pension vendor with inquiries related to changes in pension benefit payments.
Works closely with pension carriers to resolve any problems related to the payment of benefits.
Completes verifications for retirees for Medicare, Social Security, Public Housing, and other related programs.
Reviews and processes vendor invoices for the pension recordkeeper and HMH Actuarial services.
Participates with audits from regulatory agencies.
Coordinates and ensures federal filings of Form 5500, Form 8955, and Summary Annual Report are completed in a timely and accurate manner.
Monitors all items related to pension eligibility such as earning codes, hours worked, etc.