Defined Benefits Manager
We are offering an exciting opportunity for a Defined Benefits Manager in Chicago, Illinois. The role lies within the higher education industry and requires a highly organized and detail-oriented individual. The Compensation Manager will be crucial in managing employee compensation, maintaining retirement plans, and providing superior customer service.
This is a direct hire opportunity offering a hybrid work schedule. Client offers benefits including: medical, dental, life, retirement-403b, tuition benefit, paid sick time and various wellness programs. Salary range $80-$90k
Recruiter: Connie Stathopoulos
Responsibilities:
Duties and Responsibilities Involve:
- Managing employer contribution history and facilitating the efficient operation of this plan.
- Authorizing lump sum or monthly payments to qualified recipients.
- Preparing and communicating information to employees and former employees about the pension program, procedures, changes, and government-mandated disclosures.
- Directly responsible for maintaining knowledge of and changes in government regulations, retirement program trends, and prevailing practices among similar organizations; analyzes plans for cost-control and risk-assessment factors and evaluates vendor services, coverage, and options available through vendors to determine programs best meeting needs of organization as well as makes appropriate recommendations to management.
- Maintaining employee pension data in automated Human Resources Information System and coordinates transfer of data to external vendors, plan providers, auditors, and consultants.
- Notifying employees and labor union representatives of changes in retirement programs.
- Documenting and maintaining administrative procedures and provide suggestions for continuous improvements.
- Coordinating and assist with committee meeting planning and setup.
- Performing other duties as required.
BA or BS degree in Human Resource Management, Accounting, Finance or related business field and five or more years of related experience in benefit (retirement) administration or related field.