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This job was posted by https://illinoisjoblink.illinois.gov : For more information, please see: https://illinoisjoblink.illinois.gov/jobs/12200249 Department

F&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 mult