[Hiring] Manager, Pension @Hackensack Meridian Health

Role Description

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
• Compliance with company policies and controls
• Point of contact for annual plan audits, non-discrimination testing, and Form 5500 and Form 8955 filings
• Managing relationships between Hackensack Meridian Health's trustees and vendors
• Providing financial metrics and cost analysis of retirement plans
• Collecting, verifying, and providing retirement data to the fund's actuary as needed for computation of benefits funding requirements and valuations
• Collaborating with financial reporting to ensure appropriate measurement and reporting of plan assets and funding levels

This is a fully remote position

This position is overseeing 3 people!

Responsibilities

A day in the life of a Pension Manager at Hackensack Meridian Health includes:

• Ensuring that all team members' employer match, core contributions, and transition credits are analyzed and completed in a timely and accurate manner
• Producing contribution/funding reconciliations
• Coordinating Plan distributions with pension and savings plan administrators including QDRO processing, lump sum, annuity, in-service withdrawals, and loans
• Interpreting and explaining policies, procedures, and relevant law to current, terminated, and retired team members
• Representing the Benefits area for all pension and savings plan discussions related to acquisitions and divestitures
• Serving as point of contact for all changes to pension and savings plans
• Liaising with outside counsel regarding potential legal impact of proposed changes
• Assisting HMH actuarial team and pension recordkeeper with the annual actuary pension valuation and preparing data for the annual employee benefit statements
• Working closely with recordkeepers in reconciling data related to changes in employment status, breaks in service, and name changes
• Conducting retirement counseling with prospective retirees and terminated vested employees eligible for pension benefits
• Determining vested status under the pension plan for all terminated employees
• Establishing team goals and managing performance of staff
• Maintaining accurate record keeping for all active retirees, deceased retirees, and terminated vested participants
• Managing vendor deliverables related to Retirement Programs
• Performing quarterly KPI and performance reviews of pension recordkeeper to ensure established levels of service are being met
• Reviewing changes in federal legislation to ensure compliance
• Assisting pension vendor with inquiries related to changes in pension benefit payments
• Working closely with pension carriers to resolve any problems related to the payment of benefits
• Completing verifications for retirees for Medicare, Social Security, Public Housing, and other related programs
• Reviewing and processing vendor invoices for the pension recordkeeper and HMH Actuarial services
• Participating with audits from regulatory agencies
• Coordinating and ensuring federal filings of Form 5500, Form 8955, and Summary Annual Report are completed in a timely and accurate manner
• Monitoring all items related to pension eligibility such as earning codes, hours worked, etc.

Qualifications

• 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
• Detail-oriented with strong MS Office Excel skills
• Familiarity with HRIS systems (PeopleSoft and Workday)

Requirements

• Master's level degree or equivalent (preferred)
• Prior healthcare experience (preferred)
• CEBS certification in pension administration or classes in retirement plans (preferred)

Benefits

• Comprehensive benefits package including health, dental, vision, paid leave, tuition reimbursement, and retirement benefits

Starting Minimum Rate

Minimum rate of $133,120 Annually

Job Posting Disclosure

HMH is committed to pay equity and transparency for our team members. The posted rate of pay in this job posting is a reasonable good faith estimate of the minimum base pay for this role at the time of posting in accordance with the New Jersey Pay Transparency Act and does not reflect the full value of our market-competitive total rewards package.