Corporate Benefits Analyst Retirement Plans PVH Corp.

Profile

The Corporate Benefits Analyst - Retirement Plans is responsible for the daily administration of the Company’s pension plans, as well as responsibility for administration of the Retiree Medical Plans, including Medicare Part D and Subsidy Programs from a Corporate Benefits perspective. This includes ensuring that the plans are administered consistently in accordance with both Federal regulations and Plan provisions.  The Corporate Benefits Analyst also acts as the primary contact for HR, active associates and retirees to answer questions on a daily basis with respect to plan provisions and pension payment status.  The position will also assist with the administration of the company’s defined contribution and financial wellness plans as needed.

• Responsible for communicating and responding to active associates and retiree/terminated associates regarding questions about the pension plans, retiree medical and life insurance benefits, including written correspondence and communication via the Retiree phone line which requires excellent customer service skills, diplomacy, and patience.

• Acts as liaison between the retiree population and the benefit payment and retiree medical vendors to resolve issues as they arise as quickly as possible.  This requires excellent follow-up skill, customer service skills and diplomacy.

• Compiling of pension benefit information via creation and collation of pension packages and vested termination letters in accordance with plan and Federal regulations.  This includes meeting with upcoming retirees to review and counsel on their packages. Due to the critical nature of information being communicated, complexity of the packages created, and the numerous iterations of letters and forms included in each package, this requires stringent attention to detail and 100% accuracy.

• Performs monthly pension payment processing, including the setup of monthly annuitant payments, lump sum pension payments, and beneficiary and joint & survivor payments as needed, utilizing the pension trustee payment system.  This includes ensuring that all paperwork provided by retirees and term vests is in accordance with plan and Federal regulations.

• Maintenance of Retiree databases – Onbase and Workday to record terminated vested participants, retiree pension commencement information, beneficiaries and surviving spouses who begin payments or are entitled to collect benefits in the future, retiree medical eligibility and participation.

• Generates regular employee termination reports to verify vesting status of terminated associates and to compile pension data information for the Plan actuary.

• Based on analysis of termination reports and determination of vesting status of terminated associates, submit pension benefit calculation requests to the pension actuary, as well as requests for calculations for terminated vested associates who are requesting to retire.  In addition, ensure timeliness of the pension actuary in turning around a calculation in accordance to PVH standards by tracking requests as well as verifying reasonableness of completed calculations performed by the actuary.

• Assist with the annual Open Enrollment for Retirees. The extent of involvement in this project will be determined by the expertise developed each year.  At a minimum, the Analyst will be involved in generating the participant lists to ensure proper materials are created for each retiree population, creating spreadsheets and updating letters and forms, coordinating the timely mailing of packets to retirees, responding to numerous retiree inquiries, assisting the Manager with database updates and additional responsibilities as expertise warrants.

• Assists with the verification of the annual Pension Plan update file submitted to the Plan actuary for the annual pension valuation process and resolving of all data edits resulting from the annual file.

• Interacts with benefit vendors (i.e. plan trustees, actuary and auditors) to ensure consistent administration of the Company’s pension plans throughout the Corporation.

• Administration of Retiree Medical and Life Insurance plans including setting up of new participants, moving participants from the Pre-65 Retiree Medical Plan to the Post-65 Plan when eligible, maintaining eligibility listings for coverage and billing purposes.

• Acts as a resource to divisional HR Representatives on issues regarding the day-to-day administration of the Company’s pension plans.

• Track manual retiree medical premium payments, which includes communicating late payments and changes to participants.

• Generate Lifetime Maximum report for retiree medical participants and report back to the Manager.

• Communicate to retired participants who are reaching their lifetime maximum under the retiree medical plan as well as those who have reached their lifetime plan maximum and are no longer entitled to participate in the Retiree Medical Plan.  This includes communicating with medical vendor when maximum is reached to assure proper claims adjudication.

• As expertise is developed, participate in the review and updating of the pension and retiree medical Summary Plan Descriptions (SPDs) for the plans as necessary.

• Generate FAS 106 reporting and reports back to the Manager.  Includes compilation and review of retiree medical participant and contribution lists for the various plans.

• Responsible for administration of certain voluntary benefit plans as required.

• Assists Manager on projects as needed.

Experience

2 to 5 years related experience with emphasis on defined benefit plans and  benefits administration experience.

        

Education

Bachelor degree, Benefits training/certification preferred (i.e., CEBS)

Skills

Working knowledge of ERISA, strong verbal and written communication skills, must be self-motivated and detail-oriented, ability to handle multitude of tasks with a high level of accuracy and adherence to deadlines, ability to work with all levels of management, excellent customer service skills, Workday knowledge, strong PC skills: Excel, Word, Powerpoint

,title:Corporate Benefits Analyst (Retirement Plans) **MEMBERS ONLY**SIGN UP NOW***..,datePosted:2021-03-10T00:00:00.000 0000,@context:****Resources,educationRequirements:Bachelor degree, Benefits training/certification preferred (i.e., CEBS). ,experienceRequirements:2 to 5 years related experience with emphasis on defined benefit plans and benefits administration experience. ,responsibilities:The Corporate Benefits Analyst - Retirement Plans is responsible for the daily administration of the Company’s pension plans, as well as responsibility for administration of the Retiree Medical Plans, including Medicare Part D and Subsidy Programs from a Corporate Benefits perspective. This includes ensuring that the plans are administered consistently in accordance with both Federal regulations and Plan provisions. The Corporate Benefits Analyst also acts as the primary contact for HR, active associates and retirees to answer questions on a daily basis with respect to plan provisions and pension payment status. The position will also assist with the administration of the company’s defined contribution and financial wellness plans as needed. Responsible for communicating and responding to active associates and retiree/terminated associates regarding questions about the pension plans, retiree medical and life insurance benefits, including written correspondence and communication via the Retiree phone line which requires excellent customer service skills, diplomacy, and patience. Acts as liaison between the retiree population and the benefit payment and retiree medical vendors to resolve issues as they arise as quickly as possible. Compiling of pension benefit information via creation and collation of pension packages and vested termination letters in accordance with plan and Federal regulations. This includes meeting with upcoming retirees to review and counsel on their packages. Performs monthly pension payment processing, including the setup of monthly annuitant payments, lump sum pension payments, and beneficiary and joint & survivor payments as needed, utilizing the pension trustee payment system. This includes ensuring that all paperwork provided by retirees and term vests is in accordance with plan and Federal regulations. Maintenance of Retiree databases – Onbase and Workday to record terminated vested participants, retiree pension commencement information, beneficiaries and surviving spouses who begin payments or are entitled to collect benefits in the future, retiree medical eligibility and participation. Generates regular employee termination reports to verify vesting status of terminated associates and to compile pension data information for the Plan actuary. Based on analysis of termination reports and determination of vesting status of terminated associates, submit pension benefit calculation requests to the pension actuary, as well as requests for calculations for terminated vested associates who are requesting to retire. In addition, ensure timeliness of the pension actuary in turning around a calculation in accordance to PVH standards by tracking requests as well as verifying reasonableness of completed calculations performed by the actuary. Assist with the annual Open Enrollment for Retirees. At a minimum, the Analyst will be involved in generating the participant lists to ensure proper materials are created for each retiree population, creating spreadsheets and updating letters and forms, coordinating the timely mailing of packets to retirees, responding to numerous retiree inquiries, assisting the Manager with database updates and additional responsibilities as expertise warrants. Assists with the verification of the annual Pension Plan update file submitted to the Plan actuary for the annual pension valuation process and resolving of all data edits resulting from the annual file. Interacts with benefit vendors (i.e. plan trustees, actuary and auditors) to ensure consistent administration of the Company’s pension plans throughout the Corporation. Administration of Retiree Medical and Life Insurance plans including setting up of new participants, moving participants from the Pre-65 Retiree Medical Plan to the Post-65 Plan when eligible, maintaining eligibility listings for coverage and billing purposes. Acts as a resource to divisional HR Representatives on issues regarding the day-to-day administration of the Company’s pension plans. Track manual retiree medical premium payments, which includes communicating late payments and changes to participants. Generate Lifetime Maximum report for retiree medical participants and report back to the Manager. This includes communicating with medical vendor when maximum is reached to assure proper claims adjudication. As expertise is developed, participate in the review and updating of the pension and retiree medical Summary Plan Descriptions (SPDs) for the plans as necessary. Generate FAS 106 reporting and reports back to the Manager. Includes compilation and review of retiree medical participant and contribution lists for the various plans. Responsible for administration of certain voluntary benefit plans as required. Assists Manager on projects as needed. ,skills:pension plans, consistent, excellent customer service skills, responsible, excel, corporate benefits, diplomacy, retiree databases, financial wellness, defined benefit plans, life insurance, spreadsheets, adherence to deadlines, patience, valuation, medicare part d, benefits administration, written correspondence, communication, customer service, training, written communication skills, defined contribution, erisa, retirement plans, trustee, high level of accuracy, powerpoint, Compensation Specialist, Compensation Analyst, Compensation Consultant, Benefits Administrator, Benefits Specialist, Financial Analyst Consultant, Alternative Investment Operations Specialist, Plan Administrator, Associate Client Support Consultant, Talent Management System Consultant}Corporate Benefits Analyst (Retirement Plans) **MEMBERS ONLY**SIGN UP NOW***.. in Bridgewater, New Jersey, United States of America | Human Resources at PVH

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