Senior Retirement Plan Specialist
About the role
Thompson Coburn, a leading full-service law firm with offices in eight U.S. cities, seeks a full-time Senior Retirement Plan Specialist to join its Chicago office. This role is senior-level and partners closely with Finance leadership and key stakeholders across the firm.
Responsibilities
Administers the Firm’s 401(k), Profit Sharing, and Cash Balance retirement plans in accordance with plan documents, ERISA, IRS regulations, and Department of Labor requirements.
Serves as the Firm’s internal subject matter expert on retirement plan administration, compliance, and operations.
Ensures accurate and timely processing of employee and partner contributions, profit sharing allocations, and Cash Balance credits.
Collaborates with Payroll and other stakeholders to ensure accurate integration of retirement plan data with employee wages and partner compensation.
Reconciles payroll deductions, employer contributions, plan funding requirements, and participant data across systems and vendors.
Ensures compliance with regulatory requirements, including contribution limits, nondiscrimination testing (ADP/ACP), top heavy determinations, and eligibility rules.
Supports and coordinates preparation of Form 5500 filings, schedules, disclosures, and required notices for all retirement plans.
Identifies operational, compliance, or data errors and coordinates timely correction and appropriate escalation.
Maintains accurate plan records, documentation, and controls to support audits, regulatory reviews, and fiduciary oversight.
Serves as the primary liaison with plan recordkeepers, trustees, TPAs, investment advisors, actuaries, and external auditors.
Participates in vendor meetings, service reviews, fee benchmarking, and plan evaluations.
Supports retirement plan audits and compliance testing by providing required documentation and responding to auditor inquiries.
Responds to employee and partner inquiries regarding retirement plan participation, eligibility, contributions, loans, and distributions.
Assists with employee and partner retirement education initiatives and enrollment communications.
Develops, maintains, and improves written procedures, workflows, and internal controls related to retirement plan administration.
Identifies opportunities for automation, process improvement, and risk mitigation across payroll and retirement plan functions.
Supports plan amendments, vendor transitions, or system implementations as needed.
Provides reporting and analysis to Finance and Firm leadership related to retirement plan activity, funding, and compliance.
Calculates profit-sharing entry dates and maintains within database and HRIS.
Informs applicable stakeholders of regulatory changes affecting the plan.
Requirements
Required: Bachelor’s degree in Finance, Accounting, Business Administration, or related field.
Required: 7+ years of progressively responsible experience in retirement plan administration, payroll, benefits administration, or a related financial operations role.
Required: Direct experience administering defined contribution plans, including 401(k) and profit-sharing plans.
Prior experience supporting or coordinating with cash balance or defined benefit plans is strongly preferred.
Qualifications
Must possess a high level of professionalism, poise, and interpersonal skills to work well with attorneys and employees at all levels within the organization and maintain all information in the strictest of confidence.
Must possess strong collaboration skills to successfully work with other individuals and departments to enhance the entire organization.
Must have ability to read, write, and communicate fluently in English; ability to compose documents in the appropriate business style using correct grammar and spelling; ability to communicate clearly using proper grammar and diction over the telephone.
Must possess attention to detail, ability to balance multiple projects, and strong time management skills.
Must have ability to reason and apply common-sense understanding to situations encountered; ability to process routine daily functions while resolving sensitive issues and complex assignments utilizing above-average critical thinking skills.
Must have ability to collect information through communication, questioning, and interviewing techniques.
Benefits
Comprehensive benefit package including Medical Insurance, Vision Insurance, Dental Insurance, Life Insurance & ADD policies, Short & Long Term Disability Insurance, Paid Parental Leave, 401(k) Profit Sharing plans, Parking/Transportation Stipend, Section 125 Plan (Pre-tax premiums and medical reimbursement), Paid Holidays, Paid Vacation Time, Employee Assistance Program (EAP), Employee Wellness Program, Tuition Reimbursement, College Savings Plan Deductions (529 Plans), Long Term Care, Equal Opportunity Employer, M/F/D/V.