Key Responsibilities and Required Skills for Pension Manager

🎯 Role Definition

As our Pension Manager, you will serve as the strategic architect and primary steward of the company's retirement benefit offerings. You are the subject matter expert responsible for the end-to-end administration, financial oversight, compliance, and strategic direction of our Defined Benefit (DB), Defined Contribution (DC), and non-qualified pension plans. This role is a critical link between Finance, HR, and our employees, ensuring the financial security of our workforce and the fiscal health of the plans. You will manage key vendor relationships, lead complex projects, and provide expert guidance to senior leadership, safeguarding the company's fiduciary responsibilities while delivering a best-in-class benefits experience.

📈 Career Progression

Typical Career Path

Entry Point From:

Senior Pension Analyst
Senior Benefits Specialist
HR Generalist (with a heavy focus on retirement plans)

Advancement To:

Director of Global Retirement or Director of Benefits
Head of Total Rewards
VP of Human Resources

Lateral Moves:

Compensation Manager
HR Business Partner (HRBP)
Financial Wellness Program Manager

Core Responsibilities

Primary Functions

Spearhead the end-to-end administration of all qualified and non-qualified retirement plans, including Defined Benefit (DB) and Defined Contribution (DC) 401(k) programs, ensuring operational excellence.
Guarantee that all plans adhere to complex federal, state, and international regulations, including ERISA, PPA, IRS, and DOL guidelines, to mitigate compliance risk.
Act as the primary liaison and relationship manager for all external retirement plan vendors, including record-keepers, trustees, actuaries, and investment consultants, holding them accountable to service level agreements.
Direct the annual audit process for all retirement plans, coordinating with internal and external auditors, preparing required documentation, and implementing any recommended corrective actions.
Oversee the entire lifecycle of pension calculations, including performing and verifying complex benefit calculations, retirement estimates, lump sums, QDROs, and survivor benefits.
g- Partner with the Finance and Treasury departments to monitor pension trust assets, review investment performance, and contribute to the development of long-term funding and de-risking strategies.
Lead the preparation and timely filing of all mandatory government reports, including Form 5500 series, PBGC premium filings, and Annual Funding Notices.
Develop and execute a comprehensive, multi-channel communication strategy to educate employees and retirees on plan features, investment options, and regulatory changes.
Chair the company's retirement plan administrative committee, preparing agendas, presenting plan performance metrics, and facilitating strategic decisions.
Manage and resolve the most complex and sensitive escalated participant issues with empathy and a high degree of accuracy, providing clear and definitive resolutions.
Lead the pension-related aspects of corporate transactions, including mergers, acquisitions, and divestitures, from due diligence through to final integration or plan termination.
Oversee the annual plan valuation process in close collaboration with the plan actuary, critically reviewing actuarial assumptions, methods, and results to understand plan liabilities.
Develop, review, and maintain all official plan documents, Summary Plan Descriptions (SPDs), and internal administrative procedure manuals to ensure they are current and compliant.
Monitor legislative and regulatory landscapes for changes affecting retirement plans, analyzing the potential impact and proactively recommending necessary plan design or administrative adjustments.
Create and manage the annual budget for the retirement plan function, including all vendor fees, consulting expenses, and administrative overhead.
Provide authoritative guidance and consultation to senior leadership, HR Business Partners, and Legal counsel on all matters pertaining to pension and retirement benefits.

Secondary Functions

Support merger and acquisition (M&A) due diligence activities by analyzing the retirement plans of target companies.
Develop and deliver training programs for HR staff and managers on retirement plan administration and best practices.
Participate in broader Total Rewards projects, providing subject matter expertise on retirement-related matters.
Contribute to the development of financial wellness initiatives and educational content for the employee population.

Required Skills & Competencies

Hard Skills (Technical)

Deep Pension Expertise: Comprehensive knowledge of Defined Benefit (DB), Defined Contribution (DC), and non-qualified plan design, administration, and funding.
Regulatory Compliance: Expert-level understanding of ERISA, DOL, IRS, and PBGC regulations and reporting requirements.
Vendor & Contract Management: Proven ability to manage third-party administrator (TPA), actuary, and trustee relationships, including contract negotiation and performance monitoring.
Financial Acumen: Strong grasp of pension accounting principles (e.g., ASC 715), investment concepts, and actuarial valuation methodologies.
HRIS & Systems Proficiency: High-level proficiency in HRIS platforms (e.g., Workday, SAP, PeopleSoft) and advanced Microsoft Excel skills for data analysis and modeling.
Project Management: Demonstrated ability to lead complex projects, such as plan implementations, de-risking activities, or vendor transitions, from conception to completion.

Soft Skills

Stakeholder Management: Exceptional ability to communicate with and influence a wide range of stakeholders, from retirees and employees to C-suite executives.
Analytical & Problem-Solving: Superior analytical skills to interpret complex plan documents, troubleshoot data discrepancies, and solve non-routine administrative challenges.
Communication & Presentation: Excellent verbal and written communication skills, with the ability to translate complex pension topics into clear, understandable terms for diverse audiences.
Attention to Detail: Meticulous and highly organized approach to managing complex calculations, compliance deadlines, and sensitive data with a high degree of accuracy.

Education & Experience

Educational Background

Minimum Education:

Bachelor's Degree

Preferred Education:

Master's Degree (MBA, Finance, Human Resources)
Professional certification such as Certified Employee Benefit Specialist (CEBS), Certified Pension Consultant (CPC), or Project Management Professional (PMP).

Relevant Fields of Study:

Human Resources
Finance
Business Administration
Actuarial Science

Experience Requirements

Typical Experience Range: 7-12 years of progressive experience in pension and retirement plan administration.

Preferred: Experience managing large, complex, and/or union (multiemployer) pension plans in a corporate environment. Proven track record of leading plan design changes, vendor implementations, or de-risking projects.