Retirement and Compensation Specialist (803)

JOB SUMMARY: The Retirement and Compensation Specialist is responsible for managing and administering the organization's retirement and compensation programs. This role ensures that all programs comply with federal and state regulations, aligns with organizational goals, and meets the needs of employees. The Specialist will work closely with employees, management, and external vendors to deliver comprehensive retirement and compensation solutions.

JOB SPECIFIC CORE COMPETENCIES:

• Customer Service – Ability to anticipate needs of others by using AIDETP
• Communication - Ability to communicate effectively using outlook, phones and other avenues of media.
• Policies – Ability to assist others in locating and interpreting policies and plan documents.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES:

Retirement Plan Administration:

• Assist in the administration of retirement plans, including 403(b), Hancock Health Capital Accumulation Plans, and other retirement savings programs.
• Ensure compliance with relevant laws and regulations, such as ERISA and IRS requirements.
• Handle plan audits, enrollments, changes, and terminations, and provide guidance on retirement planning options.
• Coordinate with external plan administrators and financial institutions to manage plan activities and resolve issues.
• Develop and deliver retirement plan education and communication materials for employees.

Compensation Management:

• Work with the Benefits and Compensation Manager to design, implement, and manage compensation programs, including salary structures, bonus plans, and incentive programs.
• Conduct market research and salary benchmarking to ensure competitive compensation practices.
• Analyze compensation data to recommend adjustments and ensure internal equity.
• Administer and manage annual salary review processes and merit increase programs.

Compliance and Reporting:

• Monitor and ensure compliance with all relevant federal, state, and local laws and regulations regarding compensation and retirement plans.
• Prepare and file required reports, such as Form 5500 for retirement plans and compensation-related disclosures.
• Conduct audits and reviews of compensation and retirement programs to ensure accuracy and compliance.

Employee Support:

• Serve as the primary point of contact for employee inquiries related to benefits, retirement, and compensation.
• Address and resolve employee concerns related to compensation and retirement benefits.

Program Development and Improvement:

• Evaluate the effectiveness of current retirement and compensation programs and recommend enhancements.
• Stay current with industry trends, best practices, and regulatory changes to continuously improve program offerings.
• Collaborate with HR leadership to align retirement and compensation strategies with organizational goals.

EXPECTED BEHAVIORS:

Skills:

• Excellent analytical and problem-solving skills.
• Strong attention to detail and accuracy.
• Effective communication and interpersonal skills.
• Proficiency with HRIS systems and MS Office Suite (Excel, Word, PowerPoint).

Personal Attributes:

• High level of integrity and professionalism.
• Ability to manage multiple priorities and work independently.
• Strong commitment to confidentiality and data security.