Sr. Retirement Plans Analyst

Select how often (in days) to receive an alert: Create Alert CITGO Petroleum Corporation is a recognized leader in the refining industry and operates under the well-known CITGO brand. CITGO owns and operates three refineries located in Lake Charles, LA.; Lemont, IL.; and Corpus Christi, TX, and wholly and/or jointly owns 38 active terminals, six pipelines and three lubricants blending and packaging plants. With approximately 3,300 employees and a combined crude capacity of approximately 807,000 barrels-per-day (bpd), positions CITGO as one of the best-branded supplier companies in the industry. At CITGO our people are our most important resource. Our core values are Safety, Integrity, Respect, Accountability, and Care. Job Summary Administers the policies, processes, procedures and activities of CITGO’s two defined contribution and three defined benefit plans in compliance with the plan documents and Federal laws and regulations. Provides oversight of third-party vendors responsible for the daily administration of the pension and 401(k) plans in addition to overall compliance and audit responsibilities. Main point of escalation for plan disbursements, problem resolution, and participant inquiries. Handles complex analytical projects and research as assigned by the Retirement Plans Manager. Minimum Qualifications Bachelors Degree (Business, Finance, HR or related degree) and 10 years of 401(k) and pension administration experience ; 15+ years of direct job-related experience in retirement plans administration may be considered in lieu of college degree Recent experience in administration of qualified Defined Contributions 401(k) or Defined Benefits (pension) plans including thorough understanding and ability to interpret complex plan documents and provisions. General knowledge of ERISA, IRS and DOL regulations pertaining to retirement plans. Ability to interpret, communicate and apply retirement plan provisions. Experience using vendor portals for retirement plan administration. Demonstrates strong attention to detail; ability to prioritize, organize, and handle multiple tasks. Ability to work independently to resolve issues/problems with minimal guidance. Ability to work in a team environment, under pressure, meet deadlines, and handle large volumes of diverse assignments in a changing work environment. Strong interpersonal skills-verbal and written. Ability to deal tactfully with challenging participants by phone, email, and in person. Proficient in MS Office products. Familiar with SAP, Success Factors and/or other HRIS systems Job Duties 1. Assists Retirement Plans Manager with policies, processes, procedures and activities for all CITGO’s qualified retirement plans. Assures the plans are administered in accordance with plan documents and in compliance with Federal laws and regulations. Oversees the daily administration of the pension and savings plans, working closely with outsource vendors, including but not limited to monitoring installment payments, loans, and Minimum Required Distributions; directing the transfer of assets upon participants’ death; overseeing electronic data interfaces between payroll, the plans’ recordkeepers, and trustees; accomplishing the restoration, allocation and crediting of forfeitures; etc. Manages the Bridging Service Policy as it relates to plan eligibility and vesting credit service in all retirement plans. 2. Retirement plans subject matter expert, including plan provisions and features, available options, etc. Interprets complex concepts in plan provisions, responds to inquiries, and provides problem resolution, information and education to employees, retirees, and terminated vested participants. Proactively identifies, diagnoses and resolves retirement plan administration issues. Responsible for ongoing audit and performing daily/routine reporting tasks to ensure retirement plan compliance. 3. Partners with Benefits Accounting to provide expert knowledge and assistance with information gathering, problem resolution and balancing of pension interfaces, reporting, data collection, and other applicable audit support in preparation of plan financials and Forms 5500, and IRS, DOL, internal and external audits. 4. Handles complex, special, critical and analytical projects assigned by the Retirement Plans Manager. Many of the projects require research that leads to recommendations for benefit plan changes. Consult with retirement plan recordkeepers, actuaries,outsource providers, and legal counsel; makes recommendations as needed. Requires discretion and sound judgement. 5. Responsible for staying abreast of regulatory requirements and changes. Assists in updating retirement plan communications, including letters, SPD’s, benefit brochures, relevant sections of the Company’s dedicated benefits website, etc., and to communicate such changes. 6. Identifies ways to improve processes and procedures to increase efficiency within the department. Job Duties II Job duties displayed above are not all-inclusive, site-specific responsibilities may be assigned. Here are the incentives we offer: Remote Work options available for eligible positions Options are department and/or location specific 9/80 Work Schedule Option (where applicable) Annual Vacation Incentive (40-120 hours of additional pay) for Eligible Employees Paid Vacation Time Company-Paid Holidays Caregiver Leave Excellent 401(k) Match Pension Plan Company-Paid Sick Leave and Long-Term Disability Medical, Dental, & Vision Plans; FSA and HSA options Company-Paid Life Insurance for Active Employees Healthy Rewards Program Service Awards Program Educational Assistance Plan Dependent Children Scholarships Reimbursement for Gym Membership Employee Discount Programs On-site Health Clinic (select locations) On-site Cafeteria (select locations) On-site Credit Union and ATM (Corporate office only) On-site Fitness Center (select locations) PLEASE NOTE ALL JOBS DO NOT QUALIFY FOR ALL PERKS All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or disability. #J-18808-Ljbffr