Location Designation: Hybrid - 3 days per week
Position Summary
The Retirement Benefits Sr. Associate supports the administration and day-to-day operations of the Company's qualified and non-qualified retirement plans, including Defined Contribution, Defined Benefit, Cash Balance, and Deferred Compensation plans. Working under the direction of the DC, DB, and Benefits Operations Leads, this role assists with plan administration, reconciliations, funding activities, compliance reporting, and annual projects while ensuring accurate and timely processing of retirement plan transactions.
What You'll Do:
• Support the day-to-day administration of Defined Contribution, Defined Benefit, Cash Balance, Pension, and Deferred Compensation plans.
• Review and reconcile 401(k) payroll transmission files and assist with the timely funding of employee and employer contributions.
• Process Deferred Compensation payment files through Empower and perform related reconciliations.
• Assist with pension payroll funding activities with State Street Bank and validate funding transactions.
• Review participant data used for defined benefit funding and accounting valuations and research discrepancies.
• Support annual Cash Balance and Excess Cash Balance pay and interest credit processing by validating eligibility, credited service, FICA calculations and recordkeeper calculations.
• Assist with monthly reconciliations, annual company contribution processing, and retirement plan accounting activities.
• Support 401(k) administration: annual nondiscrimination testing, Form 5500 preparation, match projections, plan audits, compliance notices, and other regulatory reporting.
• Prepare reports, research participant issues, and assist with special projects, systems testing and process improvements.
What You'll Bring:
• Bachelor's degree or equivalent work experience preferred.
• 3-5 years of benefits or retirement plan administration experience.
• Working knowledge of Defined Contribution, Defined Benefit, Cash Balance, and Deferred Compensation plans.
• Strong analytical and reconciliation skills with attention to detail.
• Strong Excel and data analysis skills, including the ability to reconcile, validate, and analyze large datasets
• Strong written and verbal communication skills and the ability to manage multiple priorities.
• Experience using AI tools (e.g., ChatGPT, Microsoft Copilot) to improve productivity, analyze data, or automate routine tasks is a plus.
Pay Transparency
Salary Range: $81,000-$104,000
Overtime eligible: Exempt
Discretionary bonus eligible: Yes
Sales bonus eligible: No
Actual base salary will be determined based on several factors but not limited to individual's experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.
Our Benefits
We provide a full package of benefits for employees - and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work.Click hereto discover more about our comprehensive benefit options or visit our NYL Benefits Site.
Job Requisition ID: 94573
