401k Senior Specialist
Serves as the primary Human Resources Service Center (HRSC) escalation point for the Quest Diagnostics’ retirement programs, including our 401(k) plan, two non-qualified plans and Employee Stock Purchase Plan. Will manage projects and high-level processes while also actively administering routine processes in support of compliant plan operation. Will develop new processes, improve on existing ones, identify best practices and create process efficiencies based on policies, laws and regulations. Responsible for questions, issues and concerns that cannot be resolved at Tier 1.
The hours of the HR Service Center are 8am – 6pm.
Duties and Responsibilities:
Serve as primary administrative support for the 401(k) plan, two non-qualified plans and the Puerto Rico 1081 plan. Efforts will relate but not be limited to bi-weekly payroll reconciliations and funding of contributions, loan set ups and distribution processing.
Serve as primary administrative support for the Employee Stock Purchase Plan (ESPP).
Research complex participant questions and plan issues. Act as a liaison between employee and plan vendors on unique issues (e.g. eligibility, deductions, withdrawals & general plan provisions).
Partner with Payroll, the Centers of Excellence, third party vendors and other plan service providers (e.g. Fidelity Investments) as appropriate.
Work closely with both internal and external vendor partners to ensure files transmitted and received accurately and timely.
Serve as main contact for 5500 preparation, year-end testing and external financial plan audits.
Assist in Mergers & Acquisitions efforts related to the on-boarding of employees and the merger of 401(k) plans, including detailed compliance reviews on those plans
Provide customer service support and meet the day-to-day plan administration needs of both employees and 401(k) and ESPP COEs. Resolve issues and perform key processes as dictated by the established HRSC Service Level Agreements. Respond and resolve customer complaints.
Review work in alignment with Company and HRSC controls.
Take the lead on projects with minimal instruction or direction.
Create solutions that align with Quest policies and practices, and remain in compliance with laws, regulations and statutes.
Monitor team queue and help team members ensure alignment of resolution with the HRSC Service Level Agreement.
Participate in the development and enhancement of HRSC knowledge base tools. Monitor effectiveness of HRSC scripting and partner with HRSC Benefit Manager on improvements, updates, etc.
In collaboration with the HRSC Training team, conduct on-going training for HRSC Tier 1 and Benefit Specialist.
Provide reporting and analysis of issues for review with HRSC Benefit Manager and COEs.
Must have at least 5 years of 401(k)/defined contribution retirement plans with strong knowledge of 401(k) plan requirements, compliance, funding/reconciliations and routine plan operations.
Understands and can interpret laws, regulations and statutes regarding savings plans and administration.
Experience and understanding of Human Resource Information System benefit programs. Familiarity with HR systems, such as Oracle HCM Cloud, HR Reporting, Case Management, etc.
Previous experience working in Accounting, Payroll, and/or Human Resources preferred.
Proficiency with Excel and other Microsoft Office products/
Familiarity with Fidelity Investments PSW system preferred.
Bachelor’s Degree or equivalent experience required
Minimum 5 years of retirement plan related experience.
Ability to maintain composure in stressful situations
Ability to prioritize, problem solve and apply critical thinking skills
Ability to research information and analyze situations to arrive at valid conclusions, recommendations, and plans of actions
Ability to represent ideas clearly and concisely, both orally and in writing
Ability to deal with people in a manner which shows sensitivity, tact, and professionalism
Ability to juggle both customer case load and administrative deadlines
Excellent attention to detail and follow through skills
Quest Diagnostics has many career opportunities for individuals whose talent, initiative and dedication will complement our belief that the patient comes first and that values do matter. We work to earn our customers’ trust every day by providing the highest quality diagnostic information services in a professional, accessible and informative way. Our workforce is diverse and talented and believes in our vision: "Empowering Better Health with Diagnostic Insights."
[All requirements are subject to possible modifications to reasonably accommodate individuals with disabilities.]