Back
Retirement Benefits Analyst
#26-0557
Seattle, Washington, United States
Apply
X Facebook LinkedIn Email Copy
Compensation Range
$70,000 - 90,000 per year
Onsite Status:
This is a Hybrid role and consists of a combination of WFH In Person work
Location(s):
1131 SW Klickitat Way,
Seattle
,
Washington
98134
, United States
Essential Job Responsibilities:
The Benefits Analyst is responsible for the administration of all U.S. Pension, 401(k), and Profit-Sharing Plans, ensuring accurate and timely processing of retirement plan activities through Fidelity. This role reviews and validates all Pension Plan and 401(k) payments, calculates employer matching contributions across multiple companies and plan structures, and ensures compliance with applicable plan provisions and regulations. This position also supports Retirement and 401(k) plan audits and assists with related reporting and documentation requirements.
- Obtain an understanding of all Collectively Bargained Agreements (CBA's) that have 401(k) language for both Employee deferrals & Employer contributions, and provide support for maintaining tools, employee communications, and Plan Documents.
- Apply and interpret 401(k) Plan Document language for Plan eligibility, Employee deferrals & Employer contributions.
- Manage 401(k) contributions to include all contribution set up and employee changes, along with reconciling contributions for payroll.
- Review of all 401(k) calculations made by the various company locations, including validation of the data, verification of the CBA rules, and reconciliation of payment amounts due to respective 401(k) vendors.
- Oversee all 401(k) vesting percentages to ensure accuracy, including reviewing distribution requests, and reviewing quarterly de-minimis payments.
- Oversee all 401(k) deferral and loan changes to ensure election changes are loaded timely and accurately.
- Responsible for supporting documentation requests that are required during the RMS & Carrix Retirement & 401(k) audits, as well as external Trust audits.
- Review and research all errors in Fidelity's weekly reports and update the system accordingly.
- Prepare weekly and bi-weekly Employee contributions for all 401(k) plans for both Union & Non-Union Employees paid through ADP.
- Calculate and remit all Employer contributions for the various Union Plans, weekly, monthly, quarterly, semi-annually and annually depending upon frequency stated in the CBA's.
- Calculate and remit all pension payments monthly as stated in the CBA's.
- Maintain and update quarterly and annual summaries based on contribution activity.
- Backup to filing Form 5500 and PBGC using e-fast and login.gov.
- Support for non-discrimination testing data as needed.
- Perform data validation and internal quarterly audits as needed.
- Provide Support for Affordable Care Act reporting.
- Other duties as assigned.
Qualifications:
- Associate's degree preferred in Accounting or Business.
- Minimum 3 to 5 years of related benefits and US 401(k) /pension plan experience. CEBS or RPA designation is a plus.
- Fully proficient in MS Excel, Word and Outlook, preferably with a strength in data validation. Experience with CoPilot Agent is preferred.
- Proficient with learning systems applications, preferably experience with ADP and/or Dayforce payroll systems and Fidelity.
- In-depth knowledge of the Employee Retirement Income Security Act (ERISA) and its application to retirement plans.
- Fully proficient with IRS regulations and contribution limits for 401(k) plans, along with a good working knowledge of US payroll deductions (pre-tax, ROTH, after-tax).
- Experience working with Union Contracts and Collectively Bargained Plans.
- Experience working with legal Plan Documents and Summary Plan Descriptions.
- Confidentiality, integrity and honesty a necessity as this position deals with highly sensitive Payroll/Benefit information.
- Ability to work with a wide range of individuals
- Excellent communication and organization skills, as well as detail oriented.
- Ability to adhere to strict deadlines and work well under pressure.
We are an Equal Opportunity Employer
Benefits
Eligible employees (and their families) may qualify for medical, dental, and vision insurance, as well as having basic life and accidental death insurance, paid disability insurance, including paid parental leave if eligible, and an Employee Assistance Program. Employees will receive paid sick and vacation time, and company holidays if eligible. The company also offers paid bereavement leave, and paid jury duty. Eligible employees can enroll in our company's 401k plan, as well as a retirement plan. Employees will be eligible for discretionary and/or metric-based bonuses dependent on their position.
|