RETIREMENT & COMPENSATION PLAN ADMINISTRATOR

Company: Raley's
Location: West Sacramento
Posted on: September 30, 2024

Job Description:

Who We AreThe Raley's Companies is a private, family-owned, and purpose-driven retail company headquartered in West Sacramento, CA. Since our founding in 1935, our store operations have grown to include more than 235 locations across four states and four Tribal Nations under eight well-known banners: Raley's, Bel Air, Nob Hill Foods, Raley's O-N-E Market, Bashas', Food City, AJ's Fine Foods and Bashas' Din-- Market. In addition, The Raley's Companies bridges the divide between the physical and digital retail experiences through the operation of Apium Logistics, Fieldera and FieldTRUE. Built on a higher purpose, the organization and our over 21,000 employees are committed to quality offerings, exceptional service and doing right by our team members, communities, and planet.
Position PurposeThe Retirement and Compensation Administrator plays a key role in supporting the Company's Total Rewards function for retirement plans and compensation programs. This position is responsible for the administration of employee retirement plans, ensuring compliance with regulatory requirements, and overseeing the day-to-day operations of these plans in conjunction with other retirement and benefit specialist(s). The retirement function oversees three pension plans and a 401k plan covering approximately 20,000 team members in the western states. Additionally, the role involves working on specialized compensation initiatives, such as salary structure design, market benchmarking, and supporting incentive programs. The ideal candidate will have expertise in both retirement plan administration and compensation fundamentals, ensuring that the company's offerings are competitive, compliant, and aligned with business objectives.
Perks & Benefits

• Competitive compensation, paid weekly
• Eligible for annual incentive bonus
• Retirement Savings Plan - 401(k) including company contributions and matching funds
• Tuition Reimbursement for qualified courses
• Scholarship opportunities for continued education
• Medical, dental, and vision insurance for yourself and eligible dependents
• Paid time off
• Family leave and time off
• Life insurance
• Wellness Programs (Raley's Healthy Lifestyles)
• Flexible Spending Account (pre-tax - commuter, childcare, and medical expenses)
• Health Savings Account
• Corporate store and discount programs (10% off groceries, free items)
• Discounts to amusement parks, gym memberships, mobile phone plans, etc.
• Employee Assistance Program (free financial, legal, and mental health services)
• Charitable contribution opportunity and volunteer time off and community events
• On-site pop up grocery market (at corp office)
• On-site all you can eat fruit bar (at corp office)
  Responsibilities
  • Develops and maintains processes and procedures to effectively capture all retirement-related activities and assure compliance with ERISA, IRS and other legislation and internal plan documents.
  • Monitors and evaluates the effectiveness of existing processes, identifying areas for improvement and making recommendations to enhance efficiency, accuracy, and the team member experience.
  • Serves as point of escalation and back-up support for Sr Retirement Plans Analyst role.
  • Proactively provides status updates to management on progress of team member cases and retirement tasks/projects.
  • Delegates tasks to team support for mail distribution, file scanning and shredding, invoice processing, etc.
  • As needed, reviews system reports to resolve issues and ensure accuracy, verify team members are enrolled in appropriate retirement plans, completes triage worksheets and enhanced calculations, and responds to Company Retirement inquiries via e-mail box and phone calls.
  • Provides counseling to team members about retirement, upon request.
  • Leads the execution of a range of initiatives, including but not limited to audits, lump sum and annuity projects, digital storage, and total rewards research projects.
  • Participates in the preparation for Raley's Administrative Committee and collaborates with VP Total Rewards to coordinate meeting materials and action items with stakeholders.
  • Responsible for the development of Total Rewards education content and campaigns for Corporate and store participants.
  • Coordinates with vendors and team leaders to obtain appropriate content and determine and implement communication plans.
  • Responsible for planning and writing monthly "Financial Fitness Friday" content aligned with team objectives.
  • Partners with team leaders to develop the annual Total Rewards calendar and ensures plans are implemented.
  • Prepares and provides group presentations regarding retirement plans.
  • Builds and maintains relationships with third-party administrators, actuaries, retiree medical plan administrators, consultants and legal advisors. Participants in meetings regarding retirement plan administration and plan or contract changes.
  • Partners with Compensation and Retirement Manager to conduct the annual cadence of compensation business processes including base salary, bonuses and incentive plans.
  • Gathers and submits salary data for annual salary survey participation.
  • Special projects as assigned, including but not limited to reviewing incentive eligibility files and coordinating the calculation and approval of quarterly and annual bonus payments to participants.
  • Provides recommendations on salary offers for support center job offers and promotions.
  • Collaborates with stakeholders in HR, Operations and DC/Maintenance to conduct wage studies for retail and DC/Maintenance roles. May act as project lead on mass wage change projects.
  • Ensures compliance with all state and federal regulations concerning qualified retirement plans.
  • Works with plan administrator on providing all required disclosures to plan participants.
    Qualifications
    Required Knowledge
    • Comprehensive knowledge of defined benefit (pension) and defined contribution (401k) plans.
    • Strong knowledge of ERISA, IRS, and other regulatory requirements related to retirement plans.
    • Proficiency in HR systems (Oracle HCM or similar) and Microsoft Excel and other Office365 applications.
      Education & Experience
      • Bachelor's degree in Human Resources, Business, Finance, or a related field and a minimum of three or more (3+) years of experience in defined benefit and defined contribution plan administration, or an equivalent combination of education and experience.
      • Experience in broad-based compensation administration is preferred.
      • Completion or coursework toward certification in retirement plans administration is preferred (QPA/QKA or IFEBP) but not required.
      • Fiduciary training is preferred.
        Skills & Abilities
        • Ability to learn compensation analysis, including market surveys, job evaluations, and incentive programs.
        • Ability to lead and organize projects and people to deliver requirements timely.
        • Strong time management and prioritization skills.
        • Demonstrated ability to establish rapport and sustain working relationships at all levels of the organization.
        • Strong interpersonal and communication skills to interact effectively with employees, senior management, and external partners.
        • Strong problem-solving abilities to address complex challenges and find innovative solutions.
        • Flexibility to adapt to changing regulations, industry trends, and organizational needs in the realm of compensation and retirement programs.
        • Strong financial acumen and attention to financial details.
        • Demonstrated abilities in analytical and organizational skills.
        • Ability to maintain confidentiality of information.
          Physical Demands - Team members may occasionally experience the following physical demands for extended periods of time:
          • Sitting; frequent sedentary work.
          • Telephone usage to communicate with internal and external customers, and vendors.
          • Viewing computer monitor; average ordinary visual acuity necessary to prepare documents, enter data into computer system and read reports from computer monitor.
          • Keyboarding; use of fingers to make small movements such as typing and mouse usage.
            Work Environment
            Work is performed in a normal business office environment with occasional travel to out-of-state office locations or off-site meetings.
            Permanent residency in California or Nevada is a condition of employment for this position. This means a job offer may be denied or rescinded and, if employed, employment may be terminated if an applicant/team member ceases to reside in California or Nevada.

Keywords: Raley's, West Sacramento , RETIREMENT & COMPENSATION PLAN ADMINISTRATOR, Accounting, Auditing , West Sacramento, California