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Retirement Plan Analyst

METRO

This is a Full-time position in Houston, TX posted August 24, 2021.

Basic Function

The Retirement Plan Analyst(s) is responsible for the administration of METRO’s union and non-union Defined Benefit Plans, Defined Contribution Plan, 457 Deferred Compensation Plan and 401(a) Capital Accumulation Plan benefits. Assists the Director of Pension, Retirement Plan Administrator(s) and Pension Boards with administration of retirement plans and fund transfers. Coordinates financial and administration information between the pension boards, money managers, financial advisors, and other stakeholders. Researches, analyzes, evaluates, calculates and peer reviews benefit payments and other materials associated with a variety of complex pension benefit formulas. Prepares and generates union and non-union retirement plan reports. Responsible for all retirement plan-related data and files accurately for use by the company, actuaries and consultants. Maintains actuarial census data for annual valuations. Performs duties in a safe, efficient manner and in compliance with all applicable rules and safety procedures.

Responsibilities and Specific Duties

  • First point of contact for METRO employee retirement inquiries
  • Oversees the enrollment of employees in the 457 Plans and 401(a) Plan and Define Contribution Plan
  • Provides information on withdrawal options for all METRO Retirement Plans
  • Reviews distributions, QDRO’s, direct rollovers and incoming transfers for all METRO Retirement Plans in accordance with plan documents
  • Calculates and processes all union and non-union Defined Benefit (DB) Plans and Defined Contribution (DC) Plan benefits in an accurate and timely fashion for normal, early, disability or vested deferred Retirement Plan payments.
  • Initializes participant accounts and payments with trustee’s direct on-line system.
  • Approves distributions, rollovers and incoming transfers for all METRO Retirement Plans.
  • Assists in monitoring investment performance, and other activities of the retirement plans including coordinating changes for investment options and enhancements to the Plans and reviews such data with Trustees as needed
  • Works with Retirement Plans’ attorney(s) and actuaries to ensure compliance with IRS regulations
  • Reviews monthly Trust (State Street) reports for accuracy & reconciles to financial advisor performance report
  • Arranges regular pension committee meetings with money managers, financial advisors, actuaries, auditors, etc., coordinates the preparation of meeting materials and produces minutes
  • Develops and reviews responses to RFP’s for financial and administrative support for all retirement plans
  • Reviews cash balances and forecasts cash requirements
  • Serves as liaison between participants and Third-Party Administrator (TPA) in resolving issues
  • Conducts periodic campaigns to promote employee participation and awareness of METRO Retirement Plans
  • Reviews and transmits weekly participant contribution and loan data electronically between METRO and TPA and troubleshoots issues on an as needed basis
  • Assists Information Technology and TPA in setting up and modifying system interfaces
  • Process ACH debits for health insurance reimbursements for certain retirees
  • Coordinates and assists METRO’s external auditors during the year with audit exercises.
  • Coordinates True-up calculations for Retirement Plans as needed.
  • Acts as backup for fellow Retirement Plan Analyst(s).
  • Provides excellent customer service to METRO internal and external customers.
  • Promotes safety awareness and follows safety procedures to reduce or eliminate accidents.
  • Performs other job-related duties as assigned.

Education Requirement

High school or GED required. Bachelor’s degree in Human Resources, Business, Accounting, or related field.

Years & Experience Required

Minimum five (5) years of professional experience with retirement plan functions, analyzing and resolving a variety of complex pension calculations, Deferred Compensation Plans and professional accounting functions.

Knowledge & Skills Required

Effective knowledge of defined benefit/contribution pension plans, deferred compensation and related IRS compliance requirements and strong technical, analytical, verbal and written communication skills required. Strong customer service skills are essential. Able to work independently, exercising sound judgment and decision- making skills. Proficient in the use of personal computers and related software; including Microsoft Windows, Microsoft Office, accounting software, and SAP. Confidentiality of sensitive information is essential. Professional certification (CBP, CEBS, PHR, SPHR) desired.

Additional Information

The Metropolitan Transit Authority of Harris County, Texas has a zero tolerance drug and alcohol policy for all employees. All internal and external applicants will be required to undergo drug testing before employment and will be subject to further drug and/or alcohol testing throughout their employment.

Further, employees who perform safety-sensitive functions will submit to drug and/or alcohol testing in accordance to the Department of Transportation (DOT) and the Federal Transit Administration (FTA) regulatory requirements.

We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, sex, national origin, veteran status, genetic information or disability.

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