THE ROLEThe Retirement Plans and Benefits Lead will oversee the administration, governance, compliance, and continuous improvement of our retirement and employee benefits programs. The Lead will partner with internal stakeholders and external vendors to ensure effective retirement plan governance, operational excellence and regulatory compliance.
WHAT YOU WILL DO- Lead administration of U.S. retirement plans, including contributions, payroll reporting, plan reconciliations, beneficiary communications, annual notices, required distributions, and participant communications in addition to participating in health and welfare, wellbeing, and employee benefit programs with a focus on operational excellence, compliance, and continuous improvement.
- Oversee benefits processes and systems to ensure top-notch employee experience and accurate records in compliance with all local, state and federal regulations.
- Ensure thorough formal documentation for all benefits processes and accurate records are maintained while providing top notch employee support. Maintain and update annual compliance calendar.
- Maintain proper Retirement and Welfare Plan documents. Work with Legal to ensure legislative updates are reflected in documents, and review procedures and update as needed to comply with local, state and federal legislative changes to ensure alignment with employee policy manual.
- In partnership with benefits team members, provide input to strategy for employee well-being program working with input from ERGs, consultants, and business partners. Lead the coordination and implementation of US the program.
- Manage all Benefit vendor relationships in adherence with MFS internal vendor requirements. Work with Legal, Risk, and IT to ensure all vendor due diligence is performed in a satisfactory manner. Making recommendations as necessary in the event of under-performing vendors. Participate in all global benefits RFPs as lead for reviewing and onboarding benefits vendors.
- Oversee all US benefits audits, including annual retirement plans audit. Ensure compliance with applicable laws and regulations, such as the Affordable Care Act (ACA0, the Health Insurance Portability and Accountability Act (HIPAA), and Massachusetts Paid Family Medical Leave Act (MPFML), Responsible for ensuring timely filing of all state and federal US regulatory filings. Support global team with relevant local filings.
- Participate in global pension review, partnering with local working groups and providing regular updates to appropriate bodies, including the Retirement Investment Committee, to ensure proper governance and oversight of retirement plans globally.
- Address employee inquiries and concerns related to benefits, work closely with HR, employees, and vendors to resolve issues in a timely manner.
- Partner with benefits and technology teams ensure benefits administration tasks are operationalized on the Workday platform where appropriate with a focus on continuous improvement.
- Conduct data audits in addition to regularly scheduled reconciliations to ensure data accuracy across all systems.
WHAT WE ARE LOOKING FOR- Bachelor's Degree required.
- 5-6+ years of Benefits experience required.
- 5 years of Retirement Plan administration experience is preferred.
- Excellent attention to detail and demonstrated abilities using analytical thinking/problem solving skills in identifying issues and providing solutions as required, partnering with employees, internal partners, and vendors to resolve issues.
- Strong interpersonal skills with demonstrated ability to build and maintain productive working relationships with a wide range of contacts.
- Solid organization and time management skills with demonstrated ability to effectively manage multiple priorities and meet deadlines.
- Ability to protect and maintain highly confidential information.
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Base Salary Range: $79,000.00 - $113,000.00This position is eligible for competitive incentive bonus.
At MFS, we believe in fair and transparent compensation. For that reason, we're including the salary range for this position. This range reflects our good-faith expectation for what we'll pay depending on the candidate's experience, training and education. In addition to the salary, we also offer significant and competitive incentive compensation based on both individual and company performance. Other components of our Total Rewards Package include:
- MFS contributes an amount equal to 15% of your base salary to your retirement account that is separate from the company -sponsored 401(k)
- Education Assistance: MFS contributes $100 monthly up to $10,000 lifetime maximum directly to loan provider
- Education Assistance: Tuition reimbursement up to $8,000 annually
- Education Assistance: Access to discounted tutors and college coaches
- Generous time off and fully paid leaves including 20-weeks for maternity, 12-weeks for parental and caregiver leaves
- Choice of medical and dental plans and an and an employer contribution into the Health Savings Account
- Tax deferred commuter benefits & flexible spending accounts (medical & dependent care)
- Wellness Programs: Robust wellness webinars, employee assistance program with a focus on mental health, subsidized fitness benefit via Wellhub (formerly Gympass), where you can workout at gyms, studios and boutique fitness locations near you, join virtual personal training sessions and access a wide variety of well-being apps
Our compensation philosophy is to pay competitively for talent while ensuring equity across employees performing comparable work. We are committed to transparency - if you have questions about how we arrived at this range or what additional benefits and bonus opportunities come with the role, we'll be happy to discuss them
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MFS is a
hybrid work environment (remote/onsite) unless otherwise stated in the job posting.
