Senior Manager, Retirement Plans

Company Overview Why Choose Us Novolex is a leading manufacturer of food beverage and specialty packaging that supports multiple industries including foodservice restaurant delivery and carryout food processing grocery and retail and industrial sectors. Novolex manufacturing and sourcing expertise spans a diverse range of substrates including resin paper molded fiber aluminum and more. We provide customers a broad array of stock and customized solutions with 120 product categories 250 brands and over 39000 SKUs. Our Sustainability Commitment The Novolex sustainability vision is built upon three pillars: our products our operations and our people. Each is critically important to our growth and future as a business. These pillars form the foundation of our company-wide commitment to sustainability helping us achieve our ambitious goals through our wide-ranging initiatives. Job Description Summary: The Senior Manager Retirement Plans oversees the design administration governance and compliance of the organizations retirement programs including defined benefit (DB) defined contribution (DC) pension savings and other retirement-related plans. This role is responsible for ensuring retirement plans are administered in accordance with applicable regulations and fiduciary requirements while supporting the organizations total rewards and workforce strategies. Ideal candidate will be in the Lake Forest IL Charlotte NC markets or within commutable distance to a Novolex location. Essential Functions & Key Responsibilities: Retirement Plan Administration Direct the administration of all company-sponsored retirement programs including defined benefit pension plans defined contribution plans savings plans and other retirement offerings. Ensure accurate and timely processing of retirement plan transactions participant records benefit calculations distributions and reporting. Oversee annual plan activities including enrollments nondiscrimination testing census reporting actuarial valuations participant communications and audits. Establish and maintain operational controls to ensure accuracy efficiency and compliance. Plan Governance and Compliance Ensure retirement plans are administered in compliance with applicable federal state and local regulations including ERISA IRS Department of Labor (DOL) Pension Benefit Guaranty Corporation (PBGC) and related requirements. Monitor legislative and regulatory developments and assess impacts on retirement programs. Develop implement and maintain retirement plan policies procedures and governance frameworks. Coordinate internal and external audits and support required regulatory filings and disclosures. Partner with Legal Finance Payroll Human Resources and external advisors to mitigate compliance and fiduciary risks. Retirement Strategy and Plan Design Evaluate existing retirement plans and programs to identify opportunities for improvement cost efficiency participant outcomes and competitive positioning. Conduct market assessments and benchmarking studies to support strategic recommendations. Lead the implementation of plan design changes enhancements and new retirement programs. Develop business cases and executive recommendations related to retirement plan strategy and investments. Pension Analytics and Financial Management Manage the analysis tracking and forecasting of pension liabilities obligations and retirement plan costs. Partner with Finance Accounting Treasury and actuarial consultants to support budgeting forecasting funding decisions and financial statement reporting. Analyze retirement plan data trends demographics participation metrics and financial outcomes. Deliver insights and recommendations to senior leadership regarding risks costs funding requirements and long-term plan sustainability. Vendor and Consultant Management Manage relationships with third-party administrators recordkeepers trustees actuaries investment consultants auditors and other service providers. Establish performance standards and service-level expectations. Lead vendor review processes contract negotiations and periodic service assessments. Ensure external partners provide high-quality service and comply with contractual and regulatory obligations. Leadership and Stakeholder Management Lead develop and mentor retirement plan staff and subject matter experts. Serve as a trusted advisor to Human Resources leadership and senior management on retirement matters. Present plan performance compliance updates financial analyses and strategic recommendations to leadership committees and governance bodies. Support employee education and communications related to retirement benefits and financial wellness programs Candidate Requirements: Bachelors degree in Human Resources Business Administration Finance Accounting Economics Actuarial Science or a related field required. Masters degree preferred. 8-12 years of progressive experience in retirement plan administration pension management benefits consulting finance or related disciplines. Significant experience managing defined benefit and defined contribution retirement plans. Experience with ERISA IRS DOL PBGC and other applicable retirement regulations. Experience managing vendors consultants audits and compliance activities. Previous people leadership experience preferred. Knowledge Skills and Certifications: Certified Employee Benefit Specialist (CEBS) Qualified Pension Administrator (QPA) Qualified 401(k) Administrator (QKA) Society for Human Resource Management (SHRM) certification Professional certifications in finance accounting or investments are a plus. Leadership Expectations Operates as a trusted advisor and strategic partner to business leaders. Promotes a culture of safety engagement inclusion and accountability. Demonstrates business acumen and sound judgment. Drives execution of HR initiatives that improve organizational performance. Develops people and teams while modeling company values and leadership behaviors. A reasonable estimate of the current range is $155000 - $165000 bonus benefits. The range displayed on each job posting reflects the minimum and maximum target salaries for the position across all US locations. Within the range individual pay is determined by job-related skills experience and relevant education or training. At Novolex it is not typical for an individual to be hired at the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case. The benefits for this role include 401(k) plan with company match comprehensive medical dental and vision insurance flexible spending and health savings accounts paid vacation and sick days paid parental leave paid holidays and wellness program. #LI-TM1 Company Benefits What Youll Get From Us Benefits With safety as our top priority and a commitment to employee well-being an important focus we offer comprehensive and competitive benefits that include medical dental and vision insurance as well as a variety of other well-being resources focused on mental physical and financial health. Specific benefits and well-being programs may vary depending on where you work. Community Engagement At Novolex giving back to the local communities that support us is important. Our Focused Giving Program prioritizes support for organizations whose missions promote sustainability initiatives or address food and hunger needs. We also encourage facility level support of activities in the communities where our employees live and work. Training and Development We offer constant opportunities for advancement. From skills development to advanced education programs training and development programs and courses are available through MyLearning. Programs include company and industry training curricula support for formal education through the Tuition Reimbursement Program (Non-Union) and a Learning Management System that supports and enhances employee skills at all levels of the organization. Novolex is committed to providing equal employment opportunity in all employment practices including but not limited to selection hiring promotion transfer and compensation to all qualified applicants and employees without regard to age race color national origin sex pregnancy sexual orientation gender identity religion handicap or disability genetics citizenship status service member or veteran status or any other category protected by federal state or local law. Any individual who because of his or her disability needs an accommodation in connection with an aspect of the Companys application process should contact Formerly Pactiv Evergreen
Summary: The Senior Manager Retirement Plans oversees the design administration governance and compliance of the organizations retirement programs including defined benefit (DB) defined contribution (DC) pension savings and other retirement-related plans. This role is responsible for ensuring retirement plans are administered in accordance with applicable regulations and fiduciary requirements while supporting the organizations total rewards and workforce strategies. Ideal candidate will be in the Lake Forest IL Charlotte NC markets or within commutable distance to a Novolex location. Essential Functions & Key Responsibilities: Retirement Plan Administration Direct the administration of all company-sponsored retirement programs including defined benefit pension plans defined contribution plans savings plans and other retirement offerings. Ensure accurate and timely processing of retirement plan transactions participant records benefit calculations distributions and reporting. Oversee annual plan activities including enrollments nondiscrimination testing census reporting actuarial valuations participant communications and audits. Establish and maintain operational controls to ensure accuracy efficiency and compliance. Plan Governance and Compliance Ensure retirement plans are administered in compliance with applicable federal state and local regulations including ERISA IRS Department of Labor (DOL) Pension Benefit Guaranty Corporation (PBGC) and related requirements. Monitor legislative and regulatory developments and assess impacts on retirement programs. Develop implement and maintain retirement plan policies procedures and governance frameworks. Coordinate internal and external audits and support required regulatory filings and disclosures. Partner with Legal Finance Payroll Human Resources and external advisors to mitigate compliance and fiduciary risks. Retirement Strategy and Plan Design Evaluate existing retirement plans and programs to identify opportunities for improvement cost efficiency participant outcomes and competitive positioning. Conduct market assessments and benchmarking studies to support strategic recommendations. Lead the implementation of plan design changes enhancements and new retirement programs. Develop business cases and executive recommendations related to retirement plan strategy and investments. Pension Analytics and Financial Management Manage the analysis tracking and forecasting of pension liabilities obligations and retirement plan costs. Partner with Finance Accounting Treasury and actuarial consultants to support budgeting forecasting funding decisions and financial statement reporting. Analyze retirement plan data trends demographics participation metrics and financial outcomes. Deliver insights and recommendations to senior leadership regarding risks costs funding requirements and long-term plan sustainability. Vendor and Consultant Management Manage relationships with third-party administrators recordkeepers trustees actuaries investment consultants auditors and other service providers. Establish performance standards and service-level expectations. Lead vendor review processes contract negotiations and periodic service assessments. Ensure external partners provide high-quality service and comply with contractual and regulatory obligations. Leadership and Stakeholder Management Lead develop and mentor retirement plan staff and subject matter experts. Serve as a trusted advisor to Human Resources leadership and senior management on retirement matters. Present plan performance compliance updates financial analyses and strategic recommendations to leadership committees and governance bodies. Support employee education and communications related to retirement benefits and financial wellness programs Candidate Requirements: Bachelors degree in Human Resources Business Administration Finance Accounting Economics Actuarial Science or a related field required. Masters degree preferred. 8-12 years of progressive experience in retirement plan administration pension management benefits consulting finance or related disciplines. Significant experience managing defined benefit and defined contribution retirement plans. Experience with ERISA IRS DOL PBGC and other applicable retirement regulations. Experience managing vendors consultants audits and compliance activities. Previous people leadership experience preferred. Knowledge Skills and Certifications: Certified Employee Benefit Specialist (CEBS) Qualified Pension Administrator (QPA) Qualified 401(k) Administrator (QKA) Society for Human Resource Management (SHRM) certification Professional certifications in finance accounting or investments are a plus. Leadership Expectations Operates as a trusted advisor and strategic partner to business leaders. Promotes a culture of safety engagement inclusion and accountability. Demonstrates business acumen and sound judgment. Drives execution of HR initiatives that improve organizational performance. Develops people and teams while modeling company values and leadership behaviors. A reasonable estimate of the current range is $155000 - $165000 bonus benefits. The range displayed on each job posting reflects the minimum and maximum target salaries for the position across all US locations. Within the range individual pay is determined by job-related skills experience and relevant education or training. At Novolex it is not typical for an individual to be hired at the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case. The benefits for this role include 401(k) plan with company match comprehensive medical dental and vision insurance flexible spending and health savings accounts paid vacation and sick days paid parental leave paid holidays and wellness program. #LI-TM1
What Youll Get From Us Benefits With safety as our top priority and a commitment to employee well-being an important focus we offer comprehensive and competitive benefits that include medical dental and vision insurance as well as a variety of other well-being resources focused on mental physical and financial health. Specific benefits and well-being programs may vary depending on where you work. Community Engagement At Novolex giving back to the local communities that support us is important. Our Focused Giving Program prioritizes support for organizations whose missions promote sustainability initiatives or address food and hunger needs. We also encourage facility level support of activities in the communities where our employees live and work. Training and Development We offer constant opportunities for advancement. From skills development to advanced education programs training and development programs and courses are available through MyLearning. Programs include company and industry training curricula support for formal education through the Tuition Reimbursement Program (Non-Union) and a Learning Management System that supports and enhances employee skills at all levels of the organization. Novolex is committed to providing equal employment opportunity in all employment practices including but not limited to selection hiring promotion transfer and compensation to all qualified applicants and employees without regard to age race color national origin sex pregnancy sexual orientation gender identity religion handicap or disability genetics citizenship status service member or veteran status or any other category protected by federal state or local law. Any individual who because of his or her disability needs an accommodation in connection with an aspect of the Companys application process should contact Formerly Pactiv Evergreen