Total Rewards Retirement Specialist

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Job Summary

Reporting to the Total Rewards Retirement Manager, the main focus of the Total Rewards Retirement Specialist role is the day-to-day administration of Caltech’s Retirement programs for staff and faculty. The Total Rewards Retirement Specialist works in conjunction with the Total Rewards Retirement Manager, Director of Compensation and Benefits and the Associate Vice President of Human Resources to ensure the retirement programs operate in compliance with applicable law(s).

This position conducts day-to-day retirement plan administration and responds to customer service inquiries from faculty and staff. This position (located on Campus) works in collaboration with the Retirement Specialist(s) at JPL to ensure consistent communication, administration, interpretation, and implementation of the retirement plan provisions.

The Total Rewards Retirement Specialist also works in partnership with the Total Rewards Health and Welfare Specialist and the Total Rewards Generalists to respond to inquiries from faculty and staff about the Institute’s benefit plans, policies and procedures, as needed.

Job Duties

• Ongoing review of transactions relating to the ongoing grandfathering provisions in the new retirement plan design being rolled out on 1/1/2022.
• Oversee transactions on the retirement plans to continuously manage accuracy of newly established graded vesting provisions.
• Ongoing review of all manual processes established internally and at TIAA to insure accuracy.
• Ongoing maintenance and testing of data files including recognizing data anomalies and identifying and recommending improvements.
• Prepares reports and spreadsheets, as needed.
• Assist with year-end processes to review and finalize Section 415 limit retirement plan contribution refunds.
• Work with the record keeper to update and correct records, as needed.
• Assist with plan communications, including distribution of communications to staff.

Additional (10% of the time):

• The Total Rewards Retirement Specialist also works in partnership with the Total Rewards Health and Welfare Specialist and the Total Rewards Generalists to respond to inquiries from faculty and staff about the Institute’s benefit plans, policies and procedures, as needed.
• Researches, analyzes information and makes recommendations to support the set-up and administration of policies and benefits plans covering other retirement programs, including: 401(a), 457(b) and 457(f) and several individual non-qualified deferred compensation agreements.
• Assists in the maintenance of individual non-qualified deferred compensation agreements, as well as in the coordination and implementation of directives and other required actions as called for in the individual agreements.
• Interprets federal and state statutes/laws affecting the Institute’s non-qualified retirement programs and develops strategy for implementing changes related to laws and regulations.
• Participates in the annual reporting process of financial data to finance management for the 457(f) Non-qualified Deferred Compensation individual agreements and 457(b) Deferred Compensation Plan.
• Analyzes data for the preparation of, and prepares, personalized Executive Retirement Plan Statements.
• Prepares Early Retirement Option (ERO) benefit calculations as they relate to the retirement plan and applicable legal limits. Works with the Retirement Plan Manager to implement agreements and retiree benefits under this option, and coordinates other related items.
• Supports the Health and Welfare team during Annual Open Enrollment by reviewing communications and responding to inquiries from retirees and employees, as needed.
• Also as needed, assists the Health and Welfare team during Annual Open Enrollment in conducting one-on-one meetings with employees to explain health and welfare benefits and guide employees through the annual enrollment process.
• Reviews and analyzes data for Institute reporting needs, market surveys, vendor requests, etc.
• Assist with all annual plan audits to support auditor requests.
• Other duties as assigned.

Basic Qualifications

• Bachelor’s degree or equivalent, 4+ years of Human Resources experience with 2+ years experience on retirement programs.
• Must possess strong analytical skills and demonstrated proficiently in Word, Excel, PowerPoint, and Outlook.
• Ability to perform extensive data analysis, troubleshooting and creative problem resolution, including diagnostics and streamlining.
• Strong verbal and written communication skills.

Preferred Qualifications

• Experience working with retirement Defined Contribution and Defined Benefit Plans.
• Knowledge of data base management tools such as Oracle HRIS experience is preferred. Knowledge of web based enrollment design, maintenance and electronic feeds.
• Experience interfacing with HRIS to facilitate systems modifications, testing and implementation.
• Results Oriented with demonstrated follow-through with simultaneous and sometimes conflicting goals.
• Demonstrated project management skills.
• Fluent in Spanish (oral and written).

Required Documents

• Resume