Description
Position Summary:
Penske is seeking a detail-oriented and knowledgeable Benefits Specialist – Retirement Plans to support the administration, compliance, and communication of our retirement benefits program. This includes both defined benefit (DB) and defined contribution (DC) plans across multiple business units and locations. Reporting to the Manager of Retirement Benefits, the ideal candidate will bring an understanding of retirement plan operations, regulatory compliance, and participant support.
Major Responsibilities:
• Assist in day-to-day administration of Penske's Retirement plans working with plan vendors to ensure accurate data processing, service delivery and issue resolution.
• Coordinate data gathering, calculations, and audits in collaboration with internal stakeholders and external vendors.
• Manage employee lifecycle events (e.g., enrollments, terminations, retirements) in accordance with plan rules and documents.
• Ensure compliance with ERISA, IRS, and DOL regulations, plan document and Penske policies and procedures; support annual filings including Form 5500 and pension plan funding notices while working with internal and external partners.
• Serve as subject matter expert to escalations from participants, HR Partners and MyPenskeHR team on Penske's Retirement Benefits.
• Work with internal and external partners on system integration issues to ensure timely resolution.
• Collaborate with manager to create and enhance audit processes to identify gaps in processes and address issues timely and ensure accurate plan documentation.
• Analyze plan data and trends to identify opportunities for plan design enhancement, process improvements and enhanced participant engagement.
• Coordinate with internal and external partners on execution of system and plan updates related to acquisitions, mergers and union collective bargaining agreement updates.
• Coordinate with internal and external partners on opportunities to create and distribute communications for support of the participant experience.
• Contribute to cross functions projects related to Retirement Benefits as needed.
• Other projects and tasks as assigned.
Qualifications:
• Bachelor's degree preferred.
• 3+ years Retirement Benefits experience preferred with demonstrated progression of positions of greater responsibility.
• Strong understanding of ERISA, IRS, and DOL regulations.
• CEBS, RPA, or progress toward certification preferred.
• Prior experience with HR and general benefits processes preferred.
• Prior customer service skills required.
• Penske Corporate or Field HR experience a plus.
• Advanced Excel Skills; Intermediate proficiency in other Microsoft Office products.
• Ability to communicate clearly and effectively in both oral and written communication.
• Strong organization and time management skills.
• Ability to professionally communicate both verbal and written, to multiple levels within the organization.
• Ability to navigate complex/ambiguous environment.
• Regular, predictable, full attendance is an essential function of the job.
• Willingness to travel as necessary, work the required schedule, work at the specific location required, complete Penske employment application, submit to a background investigation (to include past employment, education, and criminal history) and drug screening are required.
Physical Requirements:
• The physical and mental demands described here are representative of those that must be met by an associate to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• The associate will be required to: read; communicate verbally and/or in written form; remember and analyze certain information; and remember and understand certain instructions or guidelines.
• While performing the duties of this job, the associate may be required to stand, walk, and sit. The associate is frequently required to use hands to touch, handle, and feel, and to reach with hands and arms. The associate must be able to occasionally lift and/or move up to 25lbs/12kg.
• Specific vision abilities required by this job include close vision, distance vision, peripheral vision, depth perception and the ability to adjust focus.
Penske is an Equal Opportunity Employer
About Penske Truck Leasing/Transportation Solutions
Penske Truck Leasing/Transportation Solutions is a premier global transportation provider that delivers essential and innovative transportation, logistics and technology services to help companies and people move forward. With headquarters in Reading, PA, Penske and its associates are driven by a dedication to excellence and a commitment to customer success. Visit Go Penske to learn more.
Job Category: Human Resources
Job Function: Benefits
Job Family: Human Resources
Address: 100 Gundy Drive
Primary Location: US-PA-Reading
Employer: Penske Truck Leasing Co., L.P.
Req ID: 2509399
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