Director of Pension Benefits Job Vacancy in The Teamsters Joint Council No. 83 of Virginia Health & Welfare and Pension Funds Richmond, VA 23229 – Latest Jobs in Richmond, VA 23229

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Company Name : The Teamsters Joint Council No. 83 of Virginia Health & Welfare and Pension Funds
Location : Richmond, VA 23229
Position : Director of Pension Benefits

Job Description : The Teamsters Joint Council No. 83 of Virginia Health & Welfare and Pension Funds (“Funds”), located in Richmond, VA, are currently seeking a Director of Pension Benefits (“Director”) capable of directing all aspects of a multiemployer, defined benefit pension plan. This includes timely and accurate administration of pension benefits in accordance with the Pension Fund Plan Documents, federal regulations as well as Fund Office policies and procedures. The ideal candidate will be highly motivated and independent with strong organizational, project management and analytical skills, knowledge of defined benefit pension plans or similar retirement benefits, as well as a strong leader with experience in managing a collectively bargained staff. This position requires the Director to be on-site and in the office located in Richmond, VA (this is a non-remote position). This position reports directly to the Executive Director.The Teamsters Joint Council No. 83 of Virginia Health & Welfare and Pension Funds consist of two (2) Taft-Hartley, benefit plans. The Health and Welfare Funds provide health, prescription, vision and dental benefits to eligible participants and dependents, and the Pension Funds provide retirement benefits to eligible participants. The Funds provide benefits to approximately 7,000 participants. The Pension Fund has assets of approximately $1 billion.The Director will assume overall responsibility for managing the Pension department, two (2) Pension Analysts and will oversee the day-to-day administrative operations of the Pension Fund to ensure timely and accurate delivery of pension benefits. This responsibility includes developing, implementing, and monitoring policies, standards and procedures to ensure compliance with all relevant local, state and federal regulations and requirements, including ERISA, DOL and IRS. As needed, the Director will confer with the Executive Director and work with Fund Counsel and Plan Actuaries. The Director must effectively set goals for, direct and motivate pension staff, and interact collaboratively with the Executive Director, Trustees, participants, employers, unions, professional advisors and colleagues at all levels both inside and outside the organization.Key Responsibilities: Specific responsibilities include, but are not limited to, the following:Oversee Day-to-Day Pension Operations: Manage the day-to-day operations and administration of the Pension Fund. Establish and monitor operational policies, procedures and standards to ensure efficiency, accuracy and prompt, accurate service to participants. Responsible for appropriate audit and control procedures for benefit payments to members. Plan, organize, and administer the daily activities of the Pension department, ensuring timely completion and accuracy of work products including pension estimates, statements, annual funding notices and 1099-R forms. Prepare final approvals for pension applications, and provide approval of pension estimates and calculations prepared under various plans, ensuring participants have met all retirement eligibility criteria for their applicable pension plan. Determine qualification of domestic relation orders and calculate benefit amounts. Answer questions regarding such orders from participants and attorneys. Develop procedures and recommend and/or implement best practices for the Pension department. Review and recommend appropriate department structure, work processes, procedures, policies, and audit functions for the department; develop workflows and documentation of administrative procedures. Provide plan information to actuarial consultants and accountants for year-end reporting. Provide plan information as well as withdrawal liability information to contributing employers. Prepare income reporting to pensioners and beneficiaries, including tax exclusion calculating for employee contributions. Prepare other federal reports, as needed. Prepare appeals for counsel review and report pension approvals, for Executive Director, to present to the Board of Trustees, on a quarterly basis.Manage Pension Department/Staff: Provide vision, leadership, guidance, motivation and day-to-day management of two (2) Pension Analysts; oversee all development and training of pension staff to maintain current knowledge/skills and ensure professional growth; ensure that all appropriate staffing levels are maintained. Prioritize work assignments; evaluate employee performance; develop staff; implement programs; enforce collective bargaining agreement, policies and procedures. Resolve staff issues; make hiring or termination decisions/recommendations; and, administer disciplinary action, as required.Ensure Compliance: Consult with outside professionals on compliance matters, as needed. Consult with the Executive Director, Fund Counsel, or actuaries in regard to unusual cases and current legislation that results in changes to the plans and departmental procedures. Assist in submission of government-mandated forms; remain informed of all plan provisions for the Pension Fund; network with professional organizations and colleagues in the industry to stay informed of new regulations, recent events and/or other situations that could affect the Fund. Evaluate retirement benefit trends and applicable pension legislation to ensure that the Fund is compliant with such legislation and, if needed, develop specific recommendations for the Executive Director.Communication of Plan Changes: Ensure all Pension plan and policy changes are communicated to staff, participants, employers, unions, as well as other plan professionals and colleagues, as needed. Ensure that all participant communications and required notices for the Pension Fund are completed and distributed in a timely manner; communicate with participants, professional advisors, governmental agencies, employers, unions and Trustees.Ensure Adequate Systems and Technology: Ensure systems are maintained, updated and tested in a timely and accurate manner to support the Pension Fund’s recordkeeping, benefit processing and participant service needs. Assist with the development of system requirements and implementation and testing of new benefits administration systems, programs and changes. Act as project manager on assigned projects, ensuring system programming and testing is complete and accurate.Requirements: The ideal candidate will meet the following requirements:Work Experience: Minimum of seven (7) years of related defined benefit or other related retirement benefit experience required, including a minimum of three (3) years of supervisory experience. Prior experience with self-funded plans and/or in Taft-Hartley or collective bargaining environment is preferred.Educational Background: Bachelor’s degree required. Advanced degree or certifications (e.g., MBA, CEBS, etc.) is a plus/preferred.Special Skills or Credentials: The selected candidate will have strong knowledge of pension benefits and governmental/legislative regulations (ERISA, DOL, PPA) governing pension plans. The ideal candidate must have demonstrated leadership capability with a proven track record of problem solving and decision making; excellent customer service, written and oral communication skills as well as proficiency with mathematical computations; excellent presentation and interpersonal skills, high ethical standards, and ability to work well with all levels of the organization. The ideal candidate will also be detail oriented and highly organized, have strong analytical skills, excellent project management skills, be able to multi-task and prioritize effectively in order to meet deadlines and be flexible and able to adapt to ongoing changes. Advanced proficiency with current MS Office suite and experience with benefits administration systems required. Some travel is required.To ApplyThe Funds offer a competitive salary and a comprehensive benefits package. In addition, based on goals and objectives that are met, this position is also eligible for a bonus. The Funds are an affirmative action employer and encourage applications from all qualified candidates regardless of gender, race, ethnicity, age, sexual orientation, marital status, religion, or disability.To apply, please send your resume and salary requirements to the link provided by Indeed. Please include job reference code 0322TJ83DPIN in the subject line or with your application.Job Type: Full-timePay: $85,000.00 – $115,000.00 per yearBenefits:Health insuranceSchedule:Monday to FridayApplication Question(s):Do you have strong knowledge of pension benefits and governmental/legislative regulations (ERISA, DOL, PPA) governing pension plans?Do you have prior experience with self-funded plans and/or in Taft-Hartley or collective bargaining environments?Education:Bachelor’s (Preferred)Experience:Related defined benefit or other related retirement benefit: 7 years (Preferred)Supervisory: 3 years (Preferred)License/Certification:Certified Employee Benefit Specialist (CEBS) (Preferred)Work Location: One location

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