Retirement Benefits Analyst

About Us

Skadden, Arps, Slate, Meagher & Flom LLP (Skadden) has forged a reputation as one of the most prestigious law firms in the world by relying on innovation, intellect, teamwork and tenacity to deliver the highest quality advice and novel solutions to our clients' legal issues. By relying on innovation, intellect, teamwork and tenacity, our lawyers deliver the highest quality advice and novel solutions to our clients' legal issues. We are recognized as a global powerhouse for complex transactions, litigation/controversy issues, and regulatory matters, as well as for the open, collaborative relationships we build with clients. Our attorneys, who reflect diverse backgrounds and perspectives, collaborate seamlessly across 50-plus practices and 21 offices in the world’s major financial centers.

The Opportunity

We are seeking a Retirement Benefits Analyst to be responsible for analyzing, auditing, and processing retirement benefits data in conjunction with the administrative operations of the Firm’s qualified retirement plans (Savings Plan (401k), Retirement Plan, and Cash Balance Plan) including daily, monthly, quarterly and annual processes and data management.  Works closely with outside record keepers and actuaries as well as internal partners to provide high quality and on-time delivery of retirement benefit administration services.

• Analyzes and audits data used in the administrative operations of the Firm's Savings Plan (401k), Cash Balance Plan (DB) and Retirement Plan (DC) including but not limited to:
  • determining plan eligibility, vesting, and Firm contributions.
  • reviewing and processing of weekly Savings Plan deferral feed files and eligibility files.  Calculates contribution rates to correct payroll arrears.
  • reconciles bi-weekly and semi-monthly payrolls with respect to Savings Plan contributions.    
  • processes under $5K auto rollovers, researches lost participants, reviews plan and IRS limits, including processing of refunds and adjustments.
  • reviews and audits various monthly and annual reports including but not limited to: distribution reports, beneficiary reports, Required Minimum Distribution (RMD), and forfeitures.
  • reviews and analyzes monthly reporting to identify recently terminated participants’ and their eligibility for distributions from each applicable plan.
  • audits various weekly reports to manage employee records within the HRIS system, identifies newly promoted Counsel and, rehired employees and Partners to determine eligibility for Firm contribution in the applicable plan(s). 
  • annual record keeping for the Retirement Plan and Cash Balance Plan.
  • audits participants' qualified retirement plan files for valid beneficiary designation forms, solicits participants for completed beneficiary designation forms and scans/maintains forms in document database.
  • creates and maintains all qualified retirement plan participants' electronic and paper files and annual administration files including filing all relevant documents.  Organizes and maintains various
  • documents within the Firm's document management system.
  • prepares and mails the distribution confirmation notices.
  • assists with the preparation of annual Savings Plan processing schedules
• Provides timely support for all Partners, attorneys, professional staff, and outside vendors with respect to the Firm's qualified retirement plans; responds to and resolves participant inquiries.
• Leads new hire orientation.
• Drafts and distributes various communications including new entrant communications, benefit packages, and Notice of Distributions.
• Maintains the security and integrity of benefits related data and the systems used to store such data.
• Ensures adherence to all plan documents and applicable IRS regulations.
• Demonstrates effective interpersonal, written and verbal communication skills to facilitate effective work relationships with others.
• Manages Firm resources responsibly.
• Complies with and understands Firm operation, policies and procedures.
• Performs other related duties as assigned.

• Knowledge of Defined Contribution (DC) and Defined Benefit (DB) plans.
• Strong mathematical and analytical skills.
• Pays attention to detail and high data accuracy.
• Demonstrates effective interpersonal and communication skills, both verbally and in writing.
• Positive attitude and excellent customer service skills.
  
• Strong computer skills; high proficiency in Outlook, PowerPoint, MS Word and MS Excel (with extensive experience in and knowledge of formulas and functions, VLOOKUP, INDEX/MATCH, pivot tables and charts, IF statements, etc.). 
• Strong organizational skills including the ability to handle multiple tasks and shifting priorities. 
• Ability to handle sensitive matters and maintain confidentiality.
• Ability to work well in a demanding and fast-paced environment.
• Ability to work well independently as well as effectively within a team.
• Ability to read, interpret and follow instructions.
• Ability to work in a collaborative team environment and take direction from senior departmental staff.
• Flexibility to adjust hours necessary to meet operating and business needs.

• Bachelor's Degree
• Minimum of two years defined contribution and/or defined benefit related administrative experience
• Workday experience preferred

The starting base salary for this position is expected to be between $80,000 - -$90,000 annually.  Actual salary will be determined based on skills, experience (to the extent relevant) and other-job related factors, consistent with applicable law.

Culture & Life at Skadden 

What makes Skadden special is our people and the culture, community and spirit of collaboration we have created. We believe in teamwork and inspiring each other to be our best in an atmosphere that promotes professionalism and excellence in all that we do. We know that inclusion, equity and drawing on the strength of a wide spectrum of diverse talent only make us better and is vital to the firm's success. Our goal is for everyone at the firm to enjoy a challenging career with opportunities for development and growth and to support the well-being of our attorneys and professional staff.

Benefits

The overall well-being of our team is important to us.  We offer generous benefits to help you achieve wellness in all areas of your life.

• Competitive salaries and year-end discretionary bonuses.
• Comprehensive health care (medical, dental, vision), savings plan/401(k) and voluntary benefits.
• Generous paid time off.
• Paid leave options, including parental.
• In-classroom, remote, and on-demand learning and professional development opportunities.
• Robust well-being classes and programs.
• Opportunities to give back and make an impact in local communities.

For further details, please visit:  https://www.skadden.com/careers/staff/employee-benefits