at University of Chicago in Chicago, Illinois, United States
Job Description
DepartmentF&A HR - Retirement
About the Department
UChicago Human Resources is dedicated to building institutional capacity to advance the University's mission in providing excellence in education, research and innovation. As a strategic partner, we collaborate with the divisions and units to attract, develop, reward and engage diverse talent to meet their specific goals and those of the University overall. We are a team of resources working together to provide organizational leadership, advice and support to meet the changing needs of our academic and staff community.
Job Summary
The Benefits Analyst provides high level analysis and administration of the University's Defined Benefit Pension Plans, Defined Contribution Plans and other University retirement plans. Implements and maintains processes and procedures to ensure that the qualified retirement plans and non-qualified deferred compensation plans sponsored by the University are administered in compliance with plan documents by working with service providers, legal counsel, and internal resources.
Responsibilities
- Maintains processes and procedures to ensure that the qualified retirement plans and non-qualified deferred compensation plans sponsored by the University are administered in compliance with plan documents by working with service providers, legal counsel, and internal resources.
- Performs reconciliation of payroll files before funding retirement accounts.
- Analyzes, resolves, and communicates plan procedures and service issues.
- Reviews Pension Benefit Calculations.
- Drafts initial participant communications.
- Determines pension retirement commencement dates for current retiring and former terminated vested employees.
- Calculates and communicates pension estimates for current and former employees.
- Assists pension administrator in determining late retirement accrued benefits.
- Facilitates the payment of required minimum distributions for those age 73 or greater.
- Responds to and processes qualified domestic relation orders.
- Reviews escalated employee cases with retirement plan administrators and responds to inquiries to assist and ensure all documentation is completed for calculation and payment processing.
- Resolves all issues received by pension administrator regarding calculation errors and missing information.
- Determines retirement plan eligibility for new employees.
- Verifies employees' work history to assure correct vesting for defined contribution plans.
- Provides high level analysis and administration of the University's retirement plans.
- Ensures plan compliance with applicable federal laws and regulations.
- Follows established processes and procedures for the administration of retirement benefit plan(s).
- Communicates changes in laws affecting plan policy and administration.
- Works with vendors to assure smooth delivery of retirement benefit programs.
- Interprets policies for designated University benefit plan(s) for benefits-eligible employees, retirees and their dependents.
- Participates in the improvement of retirement plan design. As required, ensures plan compliance with applicable federal laws and regulations.
- Uses established processes and procedures for the administration of benefit plan(s). Maintains plan documents, summary plan descriptions, communications materials, required legal notices and administrative forms. Communicates changes in laws affecting plan policy and administration. Works with vendors to assure smooth delivery of benefit programs.
- Performs other related work as needed.
Minimum Qualifications
Education:
Minimum requirements include a college or university degree in related field.
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Work Experience:
Minimum requirements include knowledge and skills developed through 2-5 years of work experience in a related job discipline.
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Certifications:
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Preferred Qualifications
Education:
- Bachelor's degree in human resources, accounting, or related field.
Technical Skills or Knowledge:
- Workday or similar HRIS/HCM system experience.
- Knowledge of Microsoft Office including Excel, Word, and PowerPoint.
Preferred Competencies
- Familiarity with plan documents, compliance issues, and non-discrimination testing.
- High level of organization skills with attention to detail and accuracy.
- High level of demonstrated analytical skills.
- High level of all forms of communication skills including written, verbal and listening.
- Possess initiative, good judgment and the ability to problem solve.
- Work independently and as part of a team.
- Exercise discretion and maintain confidentiality.
- Work on multiple projects simultaneously, set priorities, and meet deadlines.
- Presentation skills.
- Interact effectively with all levels of the University and affiliated organizations.
- Communicate information that may not be well received.
Working Conditions
- This position is eligible for a hybrid work schedule.
Application Documents
- Resume/CV (required)
- Cover Letter (preferred)
When applying, the document(s) MUSTbe uploaded via the My Experience page, in the section titled Application Documents of the application.
Job Family
University Human Resources
Role Impact
Individual Contributor
FLSA Status
Exempt
Pay Frequency
Monthly
Scheduled Weekly Hours
37.5
Benefits Eligible
Yes
Drug Test Required
No
Health Screen Required
No
Motor Vehicle Record Inquiry Required
No
Posting Statement
The University of Chicago is an Affirmative Action/Equal Opportunity/Disabled/Veterans and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender, gender identity, national or ethnic origin, age, status as an individual with a disability, military or veteran status, genetic information, or other protected classes under the law. For additional information please see the University's Notice of Nondiscrimination.
Staff Job seekers in need of a reasonable accommodation to complete the application process should call 773-702-5800 or submit a request via Applicant Inquiry Form.
We seek a diverse pool of applicants who wish to join an academic community that places the highest value on rigorous inquiry and encourages a diversity of perspectives, experiences, groups of individuals, and ideas to inform and stimulate intellectual challenge, engagement, and exchange.
All offers of employment are contingent upon a background check that includes a review of conviction history. A conviction does not automatically preclude University employment. Rather, the University considers conviction information on a case-by-case basis and assesses the nature of the offense, the circumstances surrounding it, the proximity in time of the conviction, and its relevance to the position.
The University of Chicago's Annual Security & Fire Safety Report (Report) provides information about University offices and programs that provide safety support, crime and fire statistics, emergency response and communications plans, and other policies and information. The Report can be accessed online at:http://securityreport.uchicago.edu.Paper copies of the Report are available, upon request, from the University of Chicago Police Department, 850 E. 61st Street, Chicago, IL 60637.
