Retirement Plan Manager
Virginia Commonwealth University
Richmond, VA
Full-time
Administration / Clerical
Posted on May 15, 2023
VCU Human Resources has an exciting opportunity for a Retirement Plan Manager to join our team!
All full-time university staff are eligible for VCU's robust benefits package that includes: comprehensive health benefits, paid annual and holiday leave granted up front, retirement planning and savings options, tax-deferred annuity and cash match programs, generous tuition benefit, employee discounts, well-being resources, abundant opportunities for career development and advancement, and more. Learn more about VCU's benefits: https://hr.vcu.edu/current-employees/benefits/a-z-list-of-benefits/.
Position Overview:
The Retirement Plan Manager will coordinate and oversee operations of the university's defined contribution retirement plans, including contribution administration (employee and employer), review and approval of distribution requests, and audit/compliance activities. The Retirement Plan Manager will also coordinate services and support for university employees who participate in the Virginia Retirement System. Core responsibilities for the position include, but are not limited to:
* Maintain thorough, current knowledge of federal and state and laws and regulations applicable to governmental 403(b), 401(a), and 415(m) plans
* Maintain and update all qualified retirement plans administrative procedures and training materials
* Collaborate with internal and external counsel to update plan documents for compliance with changes in law, regulation, and/or plan design.
* Adhere to all plan documents and applicable IRS regulations
* Administer corrections and reclassifications to address mistakes of fact and to ensure contributions do not exceed applicable IRS defined contribution limits.
* Manage vendor relationships with the university's approved account providers
* Work with HR partners and vendors to develop and implement participation communications and guidance services
* Recommend and implement changes and improvements
* Communicate effectively with employees and answer questions regarding benefits, eligibility, changes, accommodations, special circumstances, problem resolution, and compliance issues
* Ensure compliance with IRS regulations
* Maintain and develop the retirement consultation program for retiring faculty and staff, including training and developing HR staff that conduct consultations
* Maintain thorough knowledge of state retirement plan provisions of the Virginia Retirement System (public retirement system for state employees) for university faculty and staff who participate in those plans.
Minimum Qualifications:
* A significant number of years of progressive responsibility in retirement benefits administration for defined contribution plans.
* Demonstrated experience in a management or leadership role encompassing plan administration, distribution administration, and plan compliance functions.
* Excellent oral and written communication skills
* Demonstrated experience working in and fostering a diverse faculty, staff and student environment or commitment to do so as a staff member at VCU.
Preferred Qualifications:
* CEBS or SHRM certification
* Degree in Business Administration, Human Resource Management, or a related field
* Experience with Commonwealth of Virginia benefits, including Virginia Retirement System and Optional Retirement Plan for Higher Education.
* Five or more years in retirement benefits administration for large employer defined contribution plans.
VCU combines learning, research, creativity, service and discovery with a commitment to inclusive excellence. Ranked by U.S. News as one of the 30 “most innovative” public universities in the country, VCU is a premier, urban, public research university home to multiple nationally ranked programs. Here your success is supported, and your career can thrive. VCU offers a generous leave package, career paths for advancement, competitive pay and mission-driven work. We advance a conscientious drive to support a climate where excellence and success for all people are valued and differences are celebrated. Together, we can be unstoppable.
VCU is committed to hiring veterans! VCU will add your military years of service to our leave plan. This may provide veterans with an increased leave accrual!
Salary Range: Commensurate with experience
Department: Human ResourcesEmployment Type: UF - University Employee FTRestricted Status: NoFTE: 1Exemption Status: Exempt
University Job Code: HR Administrator 1-3
ORP Eligible: Yes