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Manager US Retirement Plans

Company: Parker Hannifin (USA)
Location: Cleveland
Posted on: November 11, 2019

Job Description:

Responsibilities Position Summary: Responsible for the administration, vendor management, participant communication, plan design, financial management and compliance related activities of the company's US retirement plans, including all qualified and non-qualified defined benefit and defined contribution plans. This includes the Consolidated Pension Plan, Pension Restoration Plan, Defined Benefit Supplemental Executive Retirement Benefits Program, Parker Retirement Savings Plan, Defined Contribution Supplemental Executive Retirement Benefits Program, Savings Restoration Plan, Executive Deferral Plan, and the International Pension Plan. Evaluates on an ongoing basis the status of current US retirement and executive programs in relation to company cost, company compliance, and effective delivery of a high level of benefit to employees. Scope/Supervision and Interaction: Reports to and receives direction from the Director, Global Retirement Plans & Risk Pooling. Interfaces with: internal and external customers globally; Human Resources, Finance, Tax and Legal team members; and vendors. Routinely interfaces with each of the global governance committees. Essential Functions: Develop US retirement and executive benefit plan designs and cost management strategies. Conduct regular competitive benchmarking analyses and observe regulatory and legislative changes to develop strategy on recommended changes as required. Manage US Plan vendor relationships including plan administrators, actuary, recordkeepers, trustees, financial education provider, and any other vendor which may be required. Actively participates in the Saving Plan Task Force and the Pension Plan Advisory Committee which includes setting the agenda for quarterly meetings, ensuring vendors are present, recommending plan and/or administration changes, and providing updates on legislative changes. Works closely with the Legal Department and outside counsel to ensure compliance in the administration of retirement and executive benefit plans, including plan document interpretation, Qualified Domestic Relations Orders (QDROs), SPDs and nondiscrimination testing. This includes preparation of communications to participants, ongoing review to ensure compliance, and working closely with vendors to ensure compliance with plan documents. Leads the implementation of special projects, including plan changes, by working with vendors on plan change programming and developing communications for leadership, HR and employees. Responsible for administration of international pension plan. Includes performing calculations of comparative retirement calculations (stayed in home country to retirement versus home country benefit plus other country benefit). Provides cross border relocation offer support to the global compensation team. Qualifications: Bachelor's degree required (business, accounting, mathematics, actuarial science, or economics preferred) Four (4) to six (6) years extensive experience in US defined benefit and defined contribution plans (both qualified and non-qualified). Strong mathematical and analytical skills including thorough understanding of actuarial concepts and the ability to review, understand, and communicate complex benefit calculations and actuarial concepts. Demonstrated ability to effectively manage large scale projects with competing priorities. Highly organized, able to handle multiple projects, with a demonstrable track record of getting things done. Logical persuader with the ability to deliver effective and engaging presentations on complex topics to a variety of audiences. Working knowledge of MS Office Suite including expert knowledge of Excel. Additional Comments: The essential functions have been provided as examples of the type of work performed by employees assigned to this job classification. The Company reserves the right to modify the work assignments and/or to make reasonable accommodations so that qualified employees can perform the essential functions. The job description is not intended to be an all inclusive list of duties and responsibilities. It is intended to describe the general nature of the position. Equal Employment Opportunity Parker is an Equal Opportunity and Affirmative Action Employer. Parker is committed to ensuring equal employment opportunities for all job applicants and employees. Employment decisions are based upon job related reasons regardless of race, ethnicity, color, religion, sex, sexual orientation, age, national origin, disability, gender identity, genetic information, veteran status, or any other status protected by law. U.S. Citizenship/Permanent Resident is required for most positions. ('Minority/Female/Disability/Veteran/VEVRAA Federal Contractor') If you would like more information about Equal Employment Opportunity as an applicant under the law, please go to *************************************************************** and **************************************************************

Keywords: Parker Hannifin (USA), Cleveland , Manager US Retirement Plans, Executive , Cleveland, Ohio

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