Benefits Analyst (Retirement & Pension)
Reporting to the Benefits Manager, the Benefits Analyst under minimal supervision, will assist employees with retirement enrollment, loans, hardships, rollovers, or pension benefits related issues, and provides analytical and technical support in the delivery of the retirement benefit programs to ensure smooth administration of group plans. Manages assigned projects, engaging internal and external resources to ensure timely completion. Serves as subject matter expert for administration and governance of retirement plans. This exciting and significant role will be integral in providing support to the benefits team. This role is based in IRVING, TX.
Essential Duties and Responsibilities
• Explains retirement benefit plan policies, procedures, and legal requirements to employee, retirees, and beneficiaries.
• Ensures retirement plans are administered in accordance with company, state, and federal guidelines and regulations.
• Ensure tracking and reporting of all payouts by custodian is accurate and up to date.
• Support annual audit and pension valuation in providing information requirements in a timely fashion.
• Assist in special projects including data entry, preparation of correspondence to members.
• Conducts pension and benefits-related calculations and analysis including withdrawal of contributions, and deferred retirement.
• Check monthly benefit payments made to retirees and beneficiaries.
• Solve complex problems efficiently, leveraging existing tools and processes whenever possible.
• Monitor and coordinate the various providers/administrators.
• Responsible for the administration of the 401(k) and pension benefit plans in accordance with plan documents, federal and state laws, to include the interpretation of benefit programs and procedures for all plans.
• Researches and recommends appropriate benefits plans and services based on data analysis.
• Acquires and distributes relevant information and documentation to plan participants and beneficiaries.
• Develops and maintains records of participants and beneficiaries including active, deferred, retired, and separated members.
• Serves as a liaison between beneficiaries and participants and the plan administrator, handling or facilitating requests for contribution adjustments, refunds, and other administrative changes.
• Maintains knowledge of legal and regulatory changes, trends, and other developments affecting retirement benefits.
• Works with internal staff and external vendors to arrive at resolution.
• Respond to retirement or pension related employee inquiries, research issues, and summarize trends.
• Evaluate and revise internal processes to reduce costs and increase departmental efficiency.
• Support M&A activity during due diligence and implementation.
• Maintains employee confidential records while adhering to legal requirements.
• Perform special projects and other duties as assigned.
• Conducts group benefits presentations for and/or individual interviews with employees regarding retirement and pension options.
• Assists with open enrollment.
• Extensive knowledge of employee retirement and pension benefits and applicable laws.
• Excellent interpersonal skills with ability to clearly explain retirement plan options in easily understood terms.
• Thorough understanding of laws, regulations, and agency interpretations or opinions related to retirement benefits.
• Excellent written and verbal communication skills.
• Ability to effectively respond to complex inquiries or complaints from clients, co-workers, supervisor and/or management.
• Ability to present information to an internal department and/or large groups of employees.
• Ability to manage multiple priorities effectively with little supervision.
• Excellent attention to detail and follow-up.
• Excellent organizational and time management skills. Nexstar Media Group does not discriminate in employment opportunities or practices based on race, color, religion, sex, national origin, age, disability, genetic information, military status, or any other characteristic protected by law.
• Advanced proficiency in Excel and Microsoft Office Suite or similar software.
• Workday experience preferred. Education and Experience
• Bachelor's degree and or 3-5 years of benefits administration and technical knowledge, supporting large, complex benefit programs.
• Knowledge of benefit regulations (401(k), ERISA, IRS Section 125, etc.)
• Project management experience a plus. Physical Requirements:
• Prolonged periods sitting at a desk and working on a computer.
• Must be able to lift up-to fifteen pounds at a time.
Jobcode: Reference SBJ-r1010x-18-208-187-128-42 in your application.