Overview

Retirement Benefits & Financial Services Senior Manager

New York, NY

Summary

The Senior Manager is responsible for the administration of the partners’ retirement plans, investments and insurances.

Responsibilities

  • Responsible primarily for the administration for the partners’ retirement plans, investments and insurances. Work closely with actuaries, investment advisors, trustee and record-keeper, auditors and Members of the Investment Committee to monitor plan assets and changes in the asset portfolio.
  • Perform DB pension calculations and annual COLA updates and process DC distributions and annual RMDs for partners’ retirement plans; prepare projected retirement planning illustrations for partners at various investment return and inflation scenarios.
  • Work with Information Technology on annual Partner DC Plan contribution process.
  • Work with auditors and ERISA attorney to ensure that retirement plans are in compliance with government regulations.
  • Develop, update and maintain communications, including Plan documents, documents, summary plan descriptions, annual partner retiree medical premium letters, new partner orientation materials, and benefit memos for new and retiring partners.
  • Coordinate the preparation and review of Form 5500s and SARs for retirement and health & welfare plans, Annual Funding Notices, and PBGC filings on a timely basis to ensure compliance with IRS, DOL, and other regulatory agencies.
  • Interface with Partner Accounts, Taxation, Fiduciary Accounts, Information Technology, Payroll, and Finance departments within the Firm.
  • Act as internal subject matter expert for the partners’ retirement and investment plans, including interpreting plan provisions, government legislation or regulations, and administrative requirements by handling phone/e-mail inquiries from partners, their beneficiaries, attorneys, consultants, financial planners, and plan record-keepers.
  • Focus on continuous process improvements to maintain the quality, efficiency and overall effectiveness of the retirement plans function and system of internal controls.
  • Interface with ERISA attorney on complex plan administrative matters, plan compliance and plan changes, execution of plan amendments, and the administration of qualified domestic relations orders (QDROs).
  • Prepare subscription documents for new investments in partners’ retirement plans. Work closely with internal special counsel on the review of documents.
  • Develop and manage internal reporting of plans and plan audits. Primary Benefits Department contact for annual employee benefit plan audits.  Sign off on management representation letters.
  • Maintain calendar assuring proactive rather than reactive compliance with all regulatory tasks and project deadlines
  • Handle capital calls for alternative investments in the retirement plans.
  • Reconciles contributions and distributions for alternative investments. Monitor plan record-keeper compliance with the completion of all scheduled transactions.
  • Implement policy and monitor directives of the Investment Committee; assist in the preparation of Committee presentations and agendas; coordinate with the Chair of the Committee in scheduling attendees and previewing their presentations assuring maximum efficient utilization of Committee time. Preparation of Committee minutes.
  • Prepare Annual Partner Benefit Statements and Defined Contribution Plans Annual Valuations.
  • Prepare investment performance and plan contribution data as needed for Annual Partner’s Meeting.
  • Prepare annual budget for vendors and consultants associated with the Firm’s retirement plans.
  • Manage and administer annual renewal of the Group Excess Liability Insurance Plan; work with broker to answer any participant questions concerning the plan.
  • Manage annual renewal of Fiduciary Liability Insurance.
  • Provide oversight and assistance to the Manager of Retirement Plans & Financial Services as needed with the administration of the frozen staff DB Plan and the 401(k) plans for staff and associates.
  • Provide direction and supervision for the Manager of Retirement Plans & Financial Services.

Requirements

  • Proactive leadership skills
  • Excellent written and oral communication skills
  • Ability to interact efficiently with people at all organization levels of the Firm
  • Ability to handle confidential and sensitive information with the appropriate discretion
  • Strong experience working with traditional defined benefit plans and 415(b) calculations
  • Strong knowledge of MS-Office tools – Word, Excel, Power Point, etc.;
  • Strong knowledge of retirement calculation and HRIS systems and data transmission;
  • A sophisticated understanding of ERISA, IRS and DOL regulations relating to defined contribution and defined benefit plans;
  • PeopleSoft knowledge a plus.
  • 7+ years of experience in benefit plan administration working with defined benefit and defined contribution plans;
  • Bachelor’s degree required. Concentration in actuarial science, accounting or business-related fields highly preferable;
  • Previous law firm experience desirable;

Salary: $175,000 to $200,000 based on experience
Date Active: 11.9.2022
Exempt/Not Exempt: Exempt