Skadden is looking for a Retirement Plans Junior Analyst to provide support for all Partners, attorneys, support staff, and outside vendor inquiries with respect to the Firm's qualified retirement plans and assists the Retirement Plans Operations Supervisor on the administration and analysis of the Firm's qualified retirement plans, including routine daily administrative functions, communications, and data management. This position:
- Assists in the resolutions of participant inquiries.
- Leads new hire orientations.
- Assists in managing the qualified retirement plan pages on the Firm's Intranet to provide information to further educate plan participants on plans' provisions.
- Assists with the distribution of all required communications and special ad hoc communications.
- Assists with the administration of the Firm's Savings Plan (401k), Cash Balance Plan (DB) and Retirement Plan (DC), including:
-Assists with the semi-annual determination of qualified retirement plans' eligibility.
-Prepares the bi-weekly and semi-monthly Savings Plan payroll reconciliations and assists with rectifying any discrepancies through the preparation of payroll adjustments.
-Audits weekly part-time reporting, reinstatement and reverse feed.
-Audits monthly rehires and under 5K population.
-Audits monthly terminations, prepares and sends termination letters and reviews distribution election forms for completion and accuracy.
-Assists in the processing of all qualified retirement plans' distributions.
-Assists with Savings Plan hardship withdrawal requests.
-Assists with Partner Savings Plan monthly funding process.
-Assists with the timely, accurate completion of routine projects, including but not limited to: catch-up contribution processes, 402g excess contribution refunds, NHCE determinations, mailings (e.g. annual statements, investment changes, QDIA, SARs).
-Audits returned mail and researches lost participants. Updates addresses for former employees.
-Creates and maintains all qualified retirement plan participants' files and annual administration files including filing all relevant documents. Organizes 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.
-Assists in the preparation of annual Savings Plan processing schedules.
- 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
- Excellent mathematical and analytical skills
- Demonstrates effective interpersonal and communication skills, both verbally and in writing
- Positive attitude and excellent customer service skills
- High proficiency in MS Excel with experience in and knowledge of formulas (i.e., vlookup, pivot tables)
- Knowledge of relevant firm computer software programs (e.g., HRIS, Outlook, MS Word, PowerPoint), with the ability to learn new software and operating systems.
- Knowledge of Benefits field and procedures
- Demonstrates close attention to detail
- Ability to handle multiple projects and shifting priorities
- Ability to handle sensitive matters and maintain confidentiality
- Ability to organize and prioritize work
- 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
- Flexibility to adjust hours necessary to meet operating and business needs
- Bachelor's Degree
- Minimum of two years benefits related experience preferably within the defined contribution and/or defined benefit arena
Skadden is an Equal Opportunity Employer. It adheres to an employment 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, physical or mental 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 an accommodation during the process due to a disability should contact Jennifer Lee at (212) 735-2073.