Qualified Plan Analyst

McKesson • The Woodlands, TX

2d

About The Position

McKesson is an impact-driven, Fortune 10 company that touches virtually every aspect of healthcare. We are known for delivering insights, products, and services that make quality care more accessible and affordable. Here, we focus on the health, happiness, and well-being of you and those we serve – we care. What you do at McKesson matters. We foster a culture where you can grow, make an impact, and are empowered to bring new ideas. Together, we thrive as we shape the future of health for patients, our communities, and our people. If you want to be part of tomorrow’s health today, we want to hear from you. Position Summary Responsible for the administration and maintenance of qualified retirement plan benefit records and related processes. Provides accurate, timely support to employees by communicating and explaining qualified plan benefits information, and partners with internal and external stakeholders to support the goals and objectives of the Benefits/Qualified Plans function while adhering to applicable federal and state requirements.

Requirements

• Education/Training: Bachelor’s degree in business or related field, or equivalent combination of education and experience.
• Experience: 2+ years of experience supporting qualified/defined contribution plans (e.g., 401(k)) administration.
• Knowledge: Working knowledge of federal and state requirements applicable to qualified plans.
• Skills/Abilities: Advanced Excel skills; strong analytical and reconciliation capabilities; critical attention to detail; strong written and verbal communication skills; ability to manage multiple tasks and deadlines; ability to work independently while escalating issues appropriately; ability to collaborate effectively and build relationships across functions.

Nice To Haves

• Experience with Workday Benefits and/or Payroll (or comparable HRIS/payroll systems) and large-file data loads.
• Experience working with retirement plan recordkeepers/TPAs and partnering with Payroll and HRIS/IT teams.
• Experience supporting audits, non-discrimination testing support, year-end census processes, and related compliance deliverables.

Responsibilities

• 401(k) file loads and reconciliation (30%) – Review uploads from the plan recordkeeper/administrator to ensure contribution rates, elections, and loan payments load correctly into Workday (or designated HRIS); analyze post-load outputs; identify and correct discrepancies; and coordinate/process required payroll adjustments.
• Per-pay-period contribution and loan funding (30%) – Reconcile employee and employer contributions and loan repayments after each payroll; ensure timely and accurate funding/transmittal to the recordkeeper and proper documentation of corrections.
• Participant support and issue resolution (15%) – Respond to HR and employee inquiries and escalations regarding eligibility, enrollments/changes, loans, distributions, and plan rules; research root causes and drive resolution in accordance with plan provisions and qualified plan regulations.
• Annual compliance cycle and audit support (10%) – Assist with year-end/annual compliance activities (e.g., census validation, testing support, data requests, audit support) and maintain required records and reconciliation documentation.
• Vendor invoices and payment processing (5%) – Process invoices and coordinate payments for plan-related vendors to support business continuity and prevent service disruptions.
• Controls, documentation, and continuous improvement (10%) – Maintain process documentation, trackers, and evidence of key controls; identify opportunities to improve data quality, timeliness, and participant experience; and partner with Payroll/HRIS/Finance/vendors to implement enhancements.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 501-1,000 employees