RETIREMENT & COMPENSATION PLAN ADMINISTRATOR
Company: Raley's
Location: West Sacramento
Posted on: October 15, 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, San Francisco , RETIREMENT & COMPENSATION PLAN ADMINISTRATOR, Accounting, Auditing , West Sacramento, California
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