Skadden is looking for a Retirement Benefits Generalist. This position supports the Retirement Benefits Manager by assisting with all of the administrative operations and analysis of the Firm’s qualified retirement plans (Savings Plan (401k), Retirement Plan, and Cash Balance Plan) including routine daily, monthly, quarterly and annual administrative functions, communications and data management. This position serves as a resource to all Partners, attorneys, professional staff, and outside vendors inquiries and processes all retirement benefits related requests in a timely and accurate manner. Assists the department with a variety of responsibilities relating to specific benefits projects to ensure the services, goals, and objectives of the department are being met. Responsible to provide high quality and on-time delivery of benefit administration services with optimal customer service.
- Provides timely support for all Partners, attorneys, professional staff, and outside vendors with respect to the Firm's qualified retirement plans.
- Assists in responding to and the resolution of participant inquiries and maintaining a log of all requests.
- Works with vendors to assist with participant inquiries.
- Leads new hire orientations.
- Assists with managing the department’s email and voice mail box and responding to inquiries regarding the retirement plans.
- Assists with the distribution of all required communications and special ad hoc communications (e.g., mailings, email).
- Supports the administration of the Firm's Savings Plan (401k), Cash Balance Plan (DB) and Retirement Plan (DC) including:.
- the maintenance, security and integrity of benefits data
- the management of all participant records both-in house and off-site
- the timely and accurate completion of routine projects, including but not limited to: catch-up contribution processes, 402g excess contribution refunds, NHCE determinations, semi-annual determination of qualified retirement plans’ eligibility, retirement benefits mailings (e.g. annual statements, investment changes, QDIA, SARs).
- the reconciliation of the bi-weekly and semi-monthly payrolls with respect to Savings Plan contributions and assists with rectifying any discrepancies through the preparation of payroll adjustments. Assists with Partner Savings Plan monthly contribution funding process.
- the annual audits of the Savings Plan, Cash Balance Plan and Retirement Plan.
- the weekly processing of new hires and Savings Plan deferral changes
- the review and audit of various monthly reports including but not limited to distribution reports, beneficiary reports, Savings Plan under 5K, Required Minimum Distribution (RMD), Hardship Withdrawal
- creating and analyzing monthly integration file to determine employee and Partner terminations,
- the processing of monthly terminations including the preparation and distribution of participant communication the processing of all qualified retirement plans' distributions including the review of participant completed election forms, the preparation and mailing of distribution confirmation notices.
- auditing returned mail and researching lost participants. Updates addresses for former employees in Workday and communicates address changes related to Savings Plan participants to record keeper.
- Creating and maintaining 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.
- 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.
- the preparation of annual Savings Plan processing schedules.
- Works with the Benefits HRIS team with logging technical/functional processes and any issues with regards to Workday as well as participates in testing and rolling out system upgrades.
- 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.)
- Knowledge of Benefits field and procedures
- 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 three years defined contribution and defined benefit related administrative experience
- One plus years of Workday experience require
Skadden is an Equal Opportunity Employer. It adheres to an equal employment opportunity policy that prohibits discriminatory practices or harassment against applicants or employees based on any legally impermissible factor including, but not necessarily limited to, race, color, religion, creed, sex, national origin, ancestry, age, alienage or citizenship status, marital or familial status, domestic partnership status, caregiver status, sexual orientation, gender, gender identity or expression, change of sex or transgender status, genetic information, medical condition, pregnancy, childbirth or related medical conditions, sexual and reproductive health decisions, disability (where the applicant or employee is qualified to perform the essential functions of the job with or without reasonable accommodation), any protected military or veteran status, or status as a victim of domestic or dating violence, sexual assault or offense, or stalking.
If you are having technical issues applying for a position, please contact your local internet service provider. Applicants who are interested in applying for a position and require special assistance or a reasonable accommodation due to a disability or a religious belief or practice should contact Jennifer Lee at (212) 735-2073.
In light of the COVID-19 pandemic, please note that all newly-hired personnel in the United States must be fully vaccinated against COVID-19 by their first day of employment.