Principal Retirement Specialist Job at National Grid
National Grid Waltham, MA 02451
$116,000 - $136,000 a year
Principal Retirement Specialist
Location: Waltham, MA, US, 02451
Brooklyn, NY, US, 11217
Syracuse, NY, US, 13202
Division: Benefits Strategy Retirement US
Job Type:
Requisition Number: 43108
Department:
Job Function: Human Resources
About us
Every day we deliver safe and secure energy to homes, communities, and businesses. We are there when people need us the most. We connect people to the energy they need for the lives they live. The pace of change in society and our industry is accelerating and our expertise and track record puts us in an unparalleled position to shape the sustainable future of our industry.
To be successful we must anticipate the needs of our customers, reducing the cost of energy delivery today and pioneering the flexible energy systems of tomorrow. This requires us to deliver on our promises and always look for new opportunities to grow, both ourselves and our business.
Best of all, our people say they are proud to work for National Grid and that it is a great place to work. They know what they do matters for society, and they can make a difference. We have a strong focus on personal development, wellbeing, inclusion and belonging. And it's not all work - we have fun, care for and look out for each other whilst forming strong friendships and affinities through active social networks & employee resource groups.
Job Purpose
This position supports the design, implementation and execution of the US retirement strategy and all US retirement plans and policies for all management and represented employees and retirees including communications and compliance with a primary focus on qualified and non-qualified pension plans.
Key Accountabilities
- Develop strong working relationships with the HR Business Partners, Labor Partners, Employee Services and Talent Acquisition to transfer knowledge, communicate and coordinate retirement plan offerings or changes
- Work with a variety of internal and external sources such as attorneys, actuaries, providers and vendors on retirement plans
- Provide assistance and subject matter expertise to Employee Services and plan administrators on retirement issues to interpret the plans and resolve any situations that may arise; resolve retirement issues/questions from employees and retirees efficiently and timely when Employee Services or the administrator needs guidance
- Design and develop retirement benefit programs and modifications including early retirement offerings; analyze cost impact and assess impact on participants
- Develop communication strategy to drive participant education and prepare and deliver employee communication and education for retirement programs; arrange for educational seminars and provide information appropriate to the needs of those approaching retirement age
- Collaborate with Legal to ensure the pension plans are compliant by overseeing the accuracy and completion of compliance requirements. Prepare, review, interpret and maintain retirement plan documents, amendments, annual funding notices, summary plan descriptions (SPD's), summary of material modifications (SMM's) and participant communications
- Monitor trends in the marketplace and assess the competitiveness of National Grid retirement plans by identifying and researching industry best practices; ensure plans are aligned with business objectives
- Provide plan interpretation guidance to the pension group on special benefit calculation requests such as executive retirement calculations, QDRO processing, and FICA/Medicare tax administration
- Research and partner with Legal to prepare responses to ERISA Appeals for the Retirement Plans Committee
- Keep abreast of regulations and legislative developments that may have an impact on National Grid retirement plans to ensure compliance with legal requirements
- Support various plan audits for retirement plans conducted by the Internal Revenue Service, the Department of Labor or the plan’s auditors
- Manage the implementation/rollout of any new retirement plans or modifications to existing retirement plans; prepare and deliver employee communications related to retirement plans
- Participate in retirement plan surveys
- Support due diligence efforts during mergers/acquisitions/divestitures as it relates to retirement plans, support integration efforts through a comprehensive review of legacy retirement plans, an assessment of market trends and best practices and recommendations for possible harmonization and alignment
- Partner with the Labor Relations group to support union contract negotiations as a resource for pension plan related issues
- Administer the severance plan for non-executives including the preparation and execution of severance agreements and releases
Qualifications
- Bachelor’s degree in Human Resources Management, Finance, Business Administration or related field is required; Master’s degree is preferred; Professional certification is a plus
- 10+ years of experience with defined benefit pension plans including design, compliance and communication; experience with non-qualified pension plans preferred
- Sound knowledge of trends in the retirement industry
- Strong knowledge of all legislation and statutory regulations governing US pension and retirement plans; working knowledge of ERISA and current on IRS, DOL and other regulatory agencies rules and regulations and their impacts on retirement plans
- Experience with union negotiations and retirement benefits (collective bargaining process)
- Knowledge of defined contribution/401(k) plans preferred
- Strong organizational and project management skills with the ability to manage multiple tasks at any given time, while maintaining strong attention to detail with a high degree of accuracy, and meeting strict deadlines
- Strong financial acumen and advanced analytical skills; must have the ability to understand complex financial analyses and apply functional knowledge to solve problems and identify opportunities for improvement
- Strong interpersonal and communication skills; demonstrated ability to communicate effectively both verbally and in writing; must be able to present information in a clear and concise manner, maintain effective working relationships with demonstrated maturity in dealing with various levels within the organization
- Must be self-directed with a strong customer focus, motivated and have high personal standards of excellence, commitment, integrity and confidentiality
- Comfortable working independently and collaboratively on a team; ability to lead projects involving internal and external stakeholders
- Knowledge of National Grid’s business operations, company policies and practices and some familiarity with the regulatory process and the recovery of cost elements in rates is a plus
- Proficient in Microsoft Office Suite (Excel, PowerPoint and Word) as well as HR database platform software (SAP)
More Information
#LI-NK1 #LI-HYBRID
Annual Salary
DNY $139,000-$163,000
MA $129,000-$152,000
UNY $116,000-$136,000
Salary commensurate with experience and location.
This position has a career path which provides for advancement opportunities within and across bands as you develop and evolve in the position; gaining experience, expertise and acquiring and applying technical skills. Candidates will be assessed and provided offers against the minimum qualifications of this role and their individual experience.
National Grid is an equal opportunity employer that values a broad diversity of talent, knowledge, experience and expertise. We foster a culture of inclusion that drives employee engagement to deliver superior performance to the communities we serve. National Grid is proud to be an affirmative action employer. We encourage minorities, women, individuals with disabilities and protected veterans to join the National Grid team.
Nearest Major Market: Waltham
Nearest Secondary Market: Boston
Recruitment Advisory
Please Note :
blog.nvalabs.org is the go-to platform for job seekers looking for the best job postings from around the web. With a focus on quality, the platform guarantees that all job postings are from reliable sources and are up-to-date. It also offers a variety of tools to help users find the perfect job for them, such as searching by location and filtering by industry. Furthermore, blog.nvalabs.org provides helpful resources like resume tips and career advice to give job seekers an edge in their search. With its commitment to quality and user-friendliness, Site.com is the ideal place to find your next job.