Retirement Benefits Manager

Description:

The Retirement Benefits Manager plays a key role in supporting the Retirement Benefits Director with the design, administration, and compliance of the firm’s retirement and retiree benefit programs. This role oversees day-to-day operations of the 401(k) and profit-sharing plans, pension plan, nonqualified deferred compensation programs, and retiree medical benefits, ensuring compliance with regulatory requirements and delivering exceptional service to employees and retirees.

Responsibilities:

401(k) & Profit-Sharing Plan Administration

• Reconcile employee deferrals and loan repayments; ensure timely bi-weekly payroll funding.
• Review reporting from the plan recordkeeper (Fidelity) on enrollments, deferrals, distributions, etc.
• Review participant disclosures and prepare internal employee communications.
• Partner with Fidelity’s client service team to resolve issues.
• Respond to participant inquiries.
• Assist in the annual calculation of the company’s profit-sharing contributions by individual.

Pension Plan Administration

• Collaborate with actuaries to calculate participant retirement benefits.
• Process retirements and update monthly pension payroll, including survivor benefits.
• Monitor death audit reporting and update participant records.
• Maintain actuarial valuation census data annually.
• Support plan compliance activities.

Deferred Compensation Programs

• Review annual contributions and distributions.
• Administer participant elections and periodic communications.
• Monitor reporting and process periodic payments.
• Serve as a point of contact for Finance team inquiries.

Compliance & Audit

• Partner with external auditors on annual audits of qualified retirement plans.
• Support preparation of government filings (e.g., Form 5500, PBGC).
• Review summary plan descriptions and material modifications.
• Assist with nondiscrimination testing.

Retiree Medical Plan Administration

• Manage enrollment and disenrollment of retirees and dependents.
• Prepare and distribute annual compliance notices (e.g., Medicare Part D).
• Resolve retiree medical claim issues.
• Calculate and review annual retiree contributions and company subsidies.

Qualifications:

• Bachelor’s degree in HR, Business, Mathematics, or related field.
• 5–10 years of HR, Finance, or benefits/actuarial consulting experience.
• Proficiency with Fidelity Investments Plan Sponsor Webstation (PSW).
• Excellent analytical and mathematical skills.
• Strong communication skills
• Ability to manage multiple projects independently.
• Advanced Microsoft Excel and Office Suite skills.
• In-depth knowledge of ERISA, IRS, DOL regulations, and retirement plan compliance.
• Experience with HRIS, payroll, and benefits systems.
• Working knowledge of plan documents and related policies.

The base salary range for this position is $90,000 - $120,000. Actual salaries will vary and will be based on various factors, such as skills, experience, and qualification for the role. It is not typical for offers to be made at or near the top of the range.

In addition, this position may be eligible for a discretionary incentive based on individual and company performance.

Eligible employees may participate in a 401 (k) program with a company profit sharing contribution, medical, dental, vision, life insurance and disability coverage and paid holidays, vacation, and sick days.

About Bessemer Trust:

• Bessemer Trust is a family office, overseeing more than $200 billion in assets for over 3,100 individuals and families of substantial wealth. Its more than 1,200 employees are singularly focused on private wealth management — disciplined investment management, sophisticated wealth planning, comprehensive family office services, and highly personalized client service.
• Established in 1907 as the family office for Annie and Henry Phipps, Bessemer Trust is in its seventh generation of ownership by the Phipps family. As a self-made entrepreneur, Henry Phipps was a founding partner and chief financial officer of Carnegie Steel.
• Bessemer Trust retains its original focus as a privately owned and independent wealth manager deeply committed to its mission of providing peace of mind to its clients. Bessemer’s adherence to putting clients’ interests first, fiduciary mindset, and highly collaborative culture are at the heart of everything the firm does.

Key Facts:

• For more than 118 years, Bessemer Trust has operated continuously in a single line of business, independently owned by one family.
• Headquartered in New York’s Rockefeller Center, Bessemer Trust has 22 offices in total. Woodbridge, NJ, is one of the firm’s largest offices, which hosts a wide range of technology and operations professionals. In addition to its sizable presence in New York and Woodbridge, the firm provides client service through offices in Atlanta, Boston, Chicago, Dallas, Delaware, Denver, Garden City, Grand Cayman, Greenwich, Houston, Los Angeles, Miami, Naples, Nevada, Palm Beach, San Diego, San Francisco, Seattle, Stuart, and Washington, D.C.
• To watch a video about Bessemer Trust’s history, click here.
• To learn more about Bessemer Trust, click here.

 About Our Employee Rewards and Benefits:

• We provide exceptional rewards and benefits that are among the best in the industry, giving our people access to a wide range of options, including:
• Competitive base salary plus discretionary annual bonus for select positions
• A 401(k) plan with a generous annual profit-sharing contribution
• Personalized development and career opportunities, including tuition reimbursement support
• Comprehensive medical, dental, and vision plans with zero contributions for employee coverage
• Employee assistance (EAP) and wellness programs
• Hybrid work environment: 60% in office, 40% remote for most positions
• Paid time off and paid parental leave
• Employer-paid life insurance and short- and long-term disability coverage
• Legal services and financial wellness plans at no cost to employee

Bessemer Trust is committed to creating a diverse and inclusive environment and is proud to be an equal opportunity employer. We encourage candidates of diverse backgrounds to apply.