Retirement Administrator (Alaska Railroad)
About The Position
Coadministers the Alaska Railroad Corporation retirement programs, including the Corporate Pension Plan, 401(k) Tax Deferred Savings Plans, 457 Deferred Compensation Plan, and Retiree Medical Plan. This role involves interpreting plan provisions and applicable requirements, exercising independent judgment in resolving complex participant and administrative matters, and recommending changes to policies, procedures, controls, and plan communications. The administrator will coordinate retirement plan related activities with third-party administrators, recordkeepers, actuaries, trustees, investment service providers, and other consultants, interface with ARRC’s auditors, and disseminate retirement education and counseling to employees and beneficiaries. Work is performed with limited day-to-day direction and is evaluated primarily for accuracy, compliance, timeliness, service quality, and achievement of program objectives.
Requirements
- Bachelor’s degree in Human Resources, Business Administration, Accounting, Finance, Public Administration, or a closely related field from an accredited college or university. Progressively responsible retirement or employee-benefits administration experience may substitute for the education requirement on a year-for-year basis.
- Four (4) years of progressively responsible professional experience administering retirement or employee-benefit plans, including at least two (2) years of direct experience with qualified retirement plans.
- Required experience must include interpreting plan documents, resolving non-routine participant matters, working with third-party administrators or professional service providers, reconciling or analyzing plan data, and preparing participant or management communications.
- Proficiency with Microsoft Word and Excel and experience using an HRIS, retirement recordkeeping platform, or comparable enterprise system are required.
Nice To Haves
- Direct experience administering both a defined benefit pension plan and defined contribution plans
- Experience with QDRO review and administration, benefit calculations, plan loans, audits, actuarial data requests, trust or recordkeeper reconciliation, and committee or fiduciary governance support.
- A retirement-focused credential such as Certified Employee Benefit Specialist (CEBS), Retirement Plans Associate (RPA), Qualified 401(k) Administrator (QKA), Qualified Pension Administrator (QPA), or comparable credential
Responsibilities
- Administers participant transactions and complex benefit requests, including normal and disability retirements, refunds, de minimis distributions, Required Minimum Distributions, repurchases of forfeited pension service, reinstatement of forfeited employer matches, beneficiary matters, Qualified Domestic Relations Orders, and military service purchases.
- Reviews facts and plan provisions, identifies missing or conflicting information, determines appropriate processing within established authority, coordinates with service providers, and escalates matters presenting material legal, fiduciary, or policy risk.
- Serves as an operational liaison with the pension recordkeeper, actuary, auditor, trustee, investment managers, and other service providers.
- Defines data and service requirements, reviews deliverables, monitors performance and issue resolution, validates information, and recommends corrective action, process changes, or escalation when service, control, or compliance concerns arise.
- In accordance with the Internal Revenue Code, review and evaluate which expenses incurred by the retirement plans are settlor or non-settlor expenses and which can be paid from plan assets.
- Presents New Employee Onboarding providing retirement benefit education for new hires.
- Provides retirement education and individualized counseling to employees, retirees, and beneficiaries.
- Independently explains plan provisions, available elections, administrative requirements, and the operational consequences of choices and referring participants to appropriate professional resources.
- Maintains the retirement administration manual, forms, procedures, employee communications, and intranet content.
- Tracks required updates for restatements of Retirement Plan Documents and Summary Plan Descriptions.
Benefits
- Retiree Medical Plan
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
