The Role
Manage day-to-day operations of retirement benefit plans, ensure compliance with regulations, provide accounting support, and lead audit activities while coordinating with stakeholders.
Summary Generated by Built In
The work we do has an impact on millions of lives, and you can be a part of it.
We help protect our customers against life’s uncertainties. Regardless of where you work within the company, you’ll be helping provide protection and peace of mind when our customers need it most.
The Associate II, Retirement Benefits Administration, manages the day-to-day operations of the company’s 401(k) and Pension Plans. This role ensures compliance with federal regulations, maintains plan records, and supports related accounting activities. The position does not have direct reports but requires coordination with various stakeholders and vendors to deliver seamless retirement benefits administration. Identifying process improvements and enhancing team and customer experience are also key objectives.
Key Responsibilities
- Administrative Support (50%)
- Validate and transmit payroll contributions, demographic files, and wire transfers for 401(k) accounts.
- Investigate and resolve errors as needed and liaise between employees/retirees and vendors to address and resolve issues with 401(k) and pension plans.
- Coordinate communications related to retirement plans with legal counsel, external vendors, and the internal communications team.
- Determine retirement eligibility, distribute retirement information, and communicate with retirees and internal stakeholders.
- Ensure compliance with 401(k) and pension plan regulations; escalate issues and recommend plan changes as appropriate.
- Accounting Support (20%)
- Process vendor fee payments, accrual entries, and perform account reconciliations and monthly 401(k) certification processes.
- Manage journal vouchers, maintain enrollment reports, and calculate and pay monthly group retiree life premiums.
- Administer confirmation communications to retirees upon commencement of pension benefits.
- Compliance & Reporting (10%)
- Lead annual 401(k) and pension plan audit activities, providing data as needed for audit and testing.
- Distribute Summary Annual Reports and Safe Harbor Notices and update related materials on the company intranet.
- Supply internal tax reporting information and annual retiree life insurance reports for valuation.
- Special Projects & Budgeting (10%)
- Participate in special projects, including acquisition-related activities.
- Actively contribute to the annual budget preparation process.
- Employee Support (10%)
- Respond to employee inquiries via email and the ProAnswers ticketing system, ensuring timely and accurate issue resolution.
Qualifications & Skills
- Minimum 5 years of experience in retirement plan administration (401k & Pension) is preferred.
- Associate’s or bachelor’s degree from an accredited institution required; specialized training in accounting or business may substitute for experience.
- Experience with acquisitions and process improvement initiatives highly valued.
- Proficient with Microsoft Office, SAP accounting software, and strong written and verbal communication skills.
- In-depth knowledge of retirement plan regulations; experience with Ultimate Software, Fidelity Plan Sponsor Webstation, and pension administration software is a plus.
- Strong analytical skills, including advanced Excel (VLOOKUP, comparisons, formulas), balancing and reconciling accounts, and general ledger experience.
- Demonstrated ability to work independently in a fast-paced environment, prioritize tasks, and maintain confidential information.
- Abilities
- Ability to work under pressure and within time constraints.
- Excellent organizational skills and attention to detail.
- Accurate typing and data entry skills.
- Strong customer service orientation with flexibility to adapt to team needs.
- Excellent oral and written communication; strong report extraction and PC skills.
- Interpersonal & Analytical Requirements
- Frequent interaction with managers, employees, and vendors regarding plan issues and resolutions.
- Ability to supply data to other departments as requested and provide professional-level service in all communications.
- Flexibility with scheduling and the ability to work collaboratively within a team environment.
- Proactive identification of compliance issues and recommendations for solutions.
Employee Benefits:
We aim to protect the wellbeing of our employees and their families with a broad benefits offering. In addition to offering comprehensive health, dental and vision insurance, we support emotional wellbeing through mental health benefits and an employee assistance program. Work/life balance is important and Protective offers a variety of paid time away benefits (e.g., paid time off, paid parental leave, short-term disability, and a cultural observance day). The financial health of our employees is just as important as physical and emotional health. Some of the financial wellbeing benefits include contributions to healthcare accounts, a pension plan, and a 401(k) plan with Company matching. All employees are encouraged to protect their overall wellbeing by engaging in ProHealth Rewards, Protective’s platform to improve wellbeing while earning cash rewards.
Eligibility for certain benefits may vary by position in accordance with the terms of the Company’s benefit plans.
Accommodations for Applicants with a Disability:
If you require an accommodation to complete the application and recruitment process due to a disability, please email [email protected]. This information will be held in confidence and used only to determine an appropriate accommodation for the application and recruitment process.
Please note that the above email is solely for individuals with disabilities requesting an accommodation. General employment questions should not be sent through this process.
We are proud to be an equal opportunity employer committed to being inclusive and attracting, retaining, and growing an inclusive workforce.
Top Skills
Fidelity Plan Sponsor Webstation
MS Office
Sap Accounting Software
Ultimate Software
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The Company
What We Do
Protective Life Corporation (Protective) provides financial services through the production, distribution and administration of insurance and investment products throughout the United States. Protective traces its roots to its flagship company founded in 1907, Protective Life Insurance Company. Throughout its more than 110-year history, Protective’s growth and success can be largely attributed to its ongoing commitment to serving people and doing the right thing — for its employees, distributors and, most importantly, its customers. Protective’s home office is located in Birmingham, Alabama, and its 3,000+ employees work across the United States. As of June 30, 2020, Protective had assets of approximately $123 billion. Protective Life Corporation is a wholly owned subsidiary of Dai-ichi Life Holdings,
